Stavely Minerals (ASX:SVY) has kicked off an updated 2026 scoping study for its Gossan and high-grade Cayley Lode copper deposits, part of the company's 100%-owned Stavely Copper-Gold Project in western Victoria.
The initiative follows a review of the company's incomplete 2022 scoping study, which, at the time, indicated a financially neutral outcome under then-prevailing metal prices.
Since 2022, copper, gold, and silver prices have risen significantly, while the AUD/USD exchange rate has fallen, improving the financial attractiveness of the project in Australian dollar terms.
The updated study will incorporate revised metal prices, an updated mineral resource estimate reflecting higher-grade continuity at Cayley Lode, additional metallurgical testwork to enhance recoveries, re-optimised open pit and underground stope designs, and evaluation of a small-footprint, high-grade underground-only development scenario.
Stavely Minerals’ Chair and Managing Director, Chris Cairns, said the company expects the updated study to deliver "a strong positive return" and provide a robust foundation for reporting production targets and financial forecasts, with completion anticipated by mid-2026.
The company will also continue parallel exploration for additional copper-gold resources at depth, including the Junction Porphyry prospect, which could further increase the scale and value of the project.
At the time of reporting, Stavely Minerals' share price was $0.018.