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Cavalier Resources Limited (ASX:CVR)

ALERT: Price-sensitive ASX Announcement for CVR
Current share price for CVR : $0.310 0 (0%)+
Announcement
Release
24 Sep 2025 8:28AM
Price at Release
$0.310
Full Release
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Summary
Cavalier Resources Limited has commenced a 5,000m extensional drilling program at the Crawford Gold Project, targeting areas beyond the Stage 1 starter pit to increase the Mineral Resource and plan for future mining stages. The Stage 1 pit is expected to produce first gold within three months of production, with mining completed in fourteen months. The program focuses on near-mine resource development, extending the northern oxide corridor towards the Miranda target. The revised Pre-Feasibility Study (PFS) from April 2025 indicates a project life of 18 months with a capital payback period of 9 months, generating A$103.6M in gross revenue at a gold price of A$4,600/oz. Total gold production is estimated at 23,467 ounces with low-cost production metrics. The PFS emphasizes sensitivity to gold price fluctuations and confirms robust financial metrics, including an NPV8 of A$51.7M and an IRR of 580%. The Ore Reserve is primarily classified as Probable, converting Indicated Resources within the Crawford pit.
Key Points
  • 5,000m extensional drill program initiated at Crawford Gold Project.
  • Targets areas beyond the Stage 1 starter pit to grow Mineral Resource.
  • First gold expected within three months; mining completion in fourteen months.
  • Focus on extending the northern oxide corridor to Miranda target.
  • Revised PFS projects 18-month project life, 9-month payback.
  • Gross revenue of A$103.6M with A$4,600/oz gold price.
  • Gold production of 23,467 ounces with low-cost metrics.
  • NPV8 of A$51.7M and IRR of 580% highlighted.
  • Ore Reserve classified as Probable, based on Indicated Resources.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.