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An update from Carnavale Resources Limited ( (AU:CAV) ) is now available.
Carnavale Resources and joint venture partner Western Resources have signed a Mining and Heritage Agreement with the Wangkatja Tjungula Aboriginal Corporation, representing the Nyalpa Pirniku native title holders, covering the Kookynie Gold Project area in Western Australia. The agreement, which clears the final hurdle for the grant of key mining lease M40/362, establishes a framework for collaboration on exploration, development and operations, embeds an Aboriginal Heritage Protocol to identify and protect cultural values, and outlines compensation, employment, contracting opportunities and royalty-based payments for the Nyalpa Pirniku people. This milestone formalises a long-term partnership intended to ensure culturally responsible project development, strengthens Carnavale’s social licence to operate, and materially de-risks the pathway to permitting and eventual gold production at Kookynie.
More about Carnavale Resources Limited
Carnavale Resources Limited is an Australian gold exploration and development company focused on advancing the Kookynie Gold Project in the Eastern Goldfields region of Western Australia, approximately 60km south of Leonora. The project, held 80% by Carnavale and 20% by Western Resources, is progressing through a Bankable Feasibility Study and aims to transition into production within one of Australia’s established gold-mining districts.
YTD Price Performance: 13.25%
Average Trading Volume: 563,087
Technical Sentiment Signal: Sell
Current Market Cap: A$37.92M
Learn more about CAV stock on TipRanks’ Stock Analysis page.