Caravel Minerals' strategic acquisition

Caravel Minerals (ASX:CVV) has entered into an Option Agreement to acquire Dalmeny Water Pty Ltd. This acquisition is a vital step for developing the Caravel Copper Project, located 150km north-east of Perth, Western Australia. Dalmeny Water holds necessary groundwater extraction licenses, ensuring sufficient water supply for the project. Furthermore, Caravel has secured a Land Access Licence for borefield development, marking significant progress in the project's advancement.

Strategic outlook for Caravel Copper Project

Caravel Minerals has made significant strides by securing water and land access for its Caravel Copper Project through the acquisition of Dalmeny Water Pty Ltd and a Land Access Licence. These agreements ensure the project's water requirements are met and provide a clear path for land acquisition. The three-year Option Agreement, extendable by two years, further solidifies this progress. With water sourced from non-agricultural aquifers, the project advances without competing with agricultural needs. This development aligns with Caravel's strategic goals, significantly de-risking the project and enhancing its viability.

Insights from Caravel Minerals and stakeholders

Richard Nixon expressed optimism about working with Caravel, highlighting the project's benefits for the local region and the State. Caravel's Managing Director, Don Hyma, emphasized that securing water and land is a major step towards reducing risks for the project's future development.