- Caravel Minerals (CVV) has entered into a trading halt as it plans for an upcoming capital raise
- The company’s share price will remain on hold until Wednesday or when Caravel releases the announcement
- Recently, the company was granted a new exploration licence near Dalwallinu, around 100 kilometres from the Caravel Copper Project
- Dalwallinu is a new copper and gold exploration project, where applications have been fast-tracked due to their proximity to Chalice Gold Mine’s Julimar discovery
- Company shares last traded on July 10 for 4.7 cents each
Caravel Minerals (CVV) has entered into a trading halt as it plans for an upcoming capital raise.
Company shares will now be on hold until Wednesday or when Caravel releases the announcement.
Recently, the company was granted a new exploration licence near Dalwallinu, around 100 kilometres from Caravel Copper Project.
Dalwallinu is a new copper and gold exploration project and currently includes one granted licence and three licence applications.
These applications have been accelerated due to Chalice Gold Mines’ Julimar discovery.
“The Julimar discovery, about 60 kilometres to the southwest of the Caravel Copper Project, has shown that significant orebodies may be concealed below the surface weathering zone with no surface indications except subtle geochemical responses,” the company explained in July.
Caravel could undertake the first phase of drilling in the current quarter.
Company shares last traded on July 10 for 4.7 cents each.