Cavalier Resources finishes Stage 1 pre-mining work
Key points
- Cavalier Resources completed all final pre-mining site fieldwork, water bore drilling, and highway access upgrades at its Crawford Gold Project.
- Cavalier shares traded unchanged at $0.24 following the announcement on Nov. 13.
- Management stated that securing project financing is now its top priority to begin mining operations.
Cavalier Resources (ASX:CVR) completed its final planned pre-mining site fieldwork at the Crawford Gold Project in Western Australia, leaving the Stage 1 operation ready for mining.
The milestone follows the October receipt of all primary mining approvals and contrasts with the company's 2025 phase of resource drilling and permitting.
"All primary mining approvals are in place, site preparations are complete, and Crawford Stage 1 is ready to mine," said Cavalier Executive Technical Director and Interim CEO Daniel Tuffin.
The company completed geotechnical tests for the haul road and heap leach pad, drilled initial water bores, improved access via the Leonora–Laverton Highway, and progressed its Mining Services Agreement with preferred contractor SSH Mining.
Following the announcement, the Cavalier share price was unchanged at $0.24.
Cavalier aims to transition from an explorer into a gold producer by developing its shallow oxide starter pit near Leonora, which carries an updated net present value of $77.2 million.
Over recent months, the company raised $4 million in a placement, signed $23 million in conditional debt term sheets, started site works in July, appointed SSH Mining in August, and gained full approvals in October.
