Caravel Minerals Limited (ASX:CVV) is a Western Australian-based copper exploration and development company focused on a new porphyry copper district discovered in a previously unexplored part of Western Australia’s Central Wheatbelt.
Caravel Minerals is advancing Definitive Feasibility Studies for the Caravel Copper Project, a large-scale, long-life (>28-year) copper project located 150km north-east of Perth in Western Australia’s Wheatbelt region.
The Project’s PFS (July 2022) and PFS Update (September 2022) demonstrate a robust, executable project generating strong cash flows based on low operating costs, a low life-of-mine strip ratio, bulk mining methods, excellent metallurgy and low-cost grid power.
Using automation and electrification technologies (ACE) for conventional open-pit mining and processing operations, Caravel will produce copper in a high-quality concentrate to be exported via existing sealed public roads though local ports.
The Caravel Copper Project Pre-Feasibility Study (“PFS”) defined a robust copper project capable of producing over 60,000tpa of copper in concentrate at low cost (C1 ~US$1.72/lb Cu), generating strong cashflows over an initial 28-year mine life (refer ASX Announcement 12 July 2022).
Technical, environmental and commercial studies completed for the PFS indicate that the Project can be built and operated with low technical risks, minimal environmental impact and positive economic and social outcomes.
The Caravel Copper Project is the largest copper mineral resource in Australia – at 2.84 million tonnes and growing.
Wayne Trumble | Chairman
Mr Trumble is a senior board executive with 35 years of industry expertise in mining, electricity, investment and construction. Previously, he served as Executive General Manager of Griffin Power Pty Ltd where he led the move from fuel supplier to electricity generator through the execution and operation of Griffin’s $1.2 billion Bluewaters coal fired project, providing 436 MW of base load power in Western Australia. Mr Trumble also served as Managing Director of TransAlta Energy where he was responsible for the commissioning and operation of the 105MW Parkeston Power Station at Kalgoorlie and is currently a strategic energy advisor to Newmont Mining.
Don Hyma | Managing Director
Don has over 30 years of international mineral resource project development experience across several countries including Canada, Chile, New Caledonia and Australia. Don’s previous roles include Director Projects for Fortescue Metals Group, Technical Director at Mitsui & Co, Vice-President Projects for the Iron Ore Company of Canada and General Manager Projects for Rio Tinto Iron Ore and he held senior project management roles at Falconbridge Limited (now Glencore). Over the last two years, Don has been an advisor to the Caravel Board on the Caravel Copper Project feasibility studies and implementation strategies and most recently was Managing Director at Adelaide-based, ASX-listed Australian Rare Earths Limited. Mr Hyma holds a Bachelor of Science in Mining Engineering and a Master of Science in Mineral Processing along with an International Executive Management Diploma from INSEAD in France and Singapore. He is also a Fellow of the Australian Institute on Mining and Metallurgy (AusIMM).
Alasdair Cooke | Executive Director
Mr Cooke has over 30 years’ experience in the mining industry with over 18 years managing public resource companies. He is a qualified geologist with a track record of successful exploration and project development and a founding partner of Perth-based investment and technical services company Mitchell River Group (MRG). Mr Cooke is also the Chairman of Energy Ventures Ltd, African Energy Resources Ltd and a Director of Anova Metals Ltd.
Daniel Davis | CFO and Company Secretary
Mr Davis is a qualified accountant who has fourteen years’ experience in senior accounting and corporate roles for resources businesses in all stages from exploration to development, construction and mining. Previously, he has served as company secretary of ASX‐listed companies African Energy Resources, Albidon and Energy Ventures (now EVE Investments) in the past ten years.