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Carnavale Resources Limited ( (AU:CAV) ) has shared an update.
Carnavale Resources Limited has announced a capital raise of approximately $7.09 million through a share placement and a non-renounceable rights issue to fund the development of the Kookynie Gold Project. The funds will be used to commence a Bankable Feasibility Study, advance mining approvals, and explore additional opportunities within the project area. The updated Scoping Study indicates strong economic potential, with a projected net present value of A$188 million and an internal rate of return of 165%. The company aims to achieve a shovel-ready status for the project by 2026, enhancing its industry positioning and providing value for shareholders.
More about Carnavale Resources Limited
Carnavale Resources Limited is a company operating in the mining industry, primarily focused on the exploration and development of gold projects. Their market focus includes advancing projects to a mine-ready status, with a particular emphasis on the Kookynie Gold Project in the Eastern Goldfields.
Current Market Cap: A$18.41M
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