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Cavalier Resources Limited (ASX:CVR)

ALERT: Price-sensitive ASX Announcement for CVR
Current share price for CVR : $0.295 -0.015 (-4.84%)+
Announcement
Release
26 Mar 2026 9:15AM
Price at Release
$0.310
Full Release
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Summary
Cavalier Resources Limited has announced the signing of revised non-binding term sheets for a US$13 million finance facility with Raptor Capital International Ltd and an additional A$5 million Gold Loan Facility with Ottomin Pty Ltd. This improved funding structure aims to support the development of the Stage 1 open pit at the Crawford Gold Project, reduce gold delivery obligations by 52%, and offer significant cost savings despite softening gold prices. The funding package enhances Cavalier's ability to manage increased expenses in capital and operations while ensuring project timelines remain unaffected. The company plans to finalize binding agreements after necessary due diligence and regulatory approvals are completed.
Key Points
  • Revised non-binding term sheets signed for US$13M finance with Raptor and A$5M Gold Loan with Ottomin.
  • The new structure reduces gold delivery obligations by 52%.
  • Significant cost savings estimated to be A$43 million.
  • Funding aids Stage 1 Crawford open pit development and resource extension.
  • Flexibility to manage increased capital and operational costs.
  • Raptor proposes to purchase 6,265 ounces at US$2,075 per ounce.
  • Ottomin to be repaid in cash and gold, with a penalty interest on late repayments.
  • Raptor has the option to acquire up to 50,000 additional gold ounces.
  • Binding agreement subject to due diligence and regulatory approval.
  • Ottomin to receive options for Cavalier shares exercisable at a premium.
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.