Announcement Date: 2022-07-13
Announcement Type: Pre-Feasibility Study
Announcement Code: JORC
Company name: Caravel Minerals Ltd.
Project name: Caravel
Location: Australia
Commodities: Copper
Highlight: Pre-Feasibility Study results incl. pre-tax NPV (7%) of AUD$1.066B & IRR of 14.7%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Caravel Minerals Limited (the “Company”) (ASX: CVV) is pleased to announce results of the PreFeasibility Study (“PFS”) and a Maiden Ore Reserve for its 100%-owned Caravel Copper Project in the Wheatbelt region of Western Australia. The Caravel Copper Project Pre-Feasibility Study report is provided as Appendix 1. Key Results Detailed technical, environmental, and commercial studies completed as part of the PFS indicate Caravel can be built and operated with low operating costs (C1 costs of US$1.72/lb, All-in Sustaining Cost of US$2.55/lb), low technical risks, minimal environmental impact and positive economic and social outcomes. The base case financial model assumes a long-term price of US$4.00/lb Cu and exchange rate of US$0.72:A$1.00. Over the current 28-year project mine life, modelling demonstrates that the Project will produce ~62,000 tonnes per annum of copper in concentrate, generating cumulative pre-tax net cashflows of $4.62B on total copper sales revenues of $17.55B.
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