Cavalier Resources Limited (AU:CVR) has released an update.
Cavalier Resources Limited reports significant progress on the Crawford Gold Project, with a promising Pre-Feasibility Study (PFS) indicating a pre-CAPEX cashflow of A$24.6M and an IRR of 130% from an ore reserve of 29,300 ounces of gold. The company is on track with mining approvals, expecting to submit reports to authorities by Q4 2024, and has started a 2,500m maiden drill program at Ella’s Rock to test Lithium-Caesium-Tantalum targets. These developments signal potential revenue growth and expansion, particularly with the current high gold prices.
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