2022 Pre-Feasibility Study Caravel Minerals 12 July 2022

2022 Pre-Feasibility Study

The Caravel Copper Project Pre-Feasibility Study (PFS) has defined a robust project that can produce 62,000 tpa of copper in concentrate at low cost (C1 ~US$1.72/lb Cu) generating strong cashflows over an initial 28-year mine life.

Detailed technical, environmental and commercial studies indicate the Project can be built and operated with low operating costs, low technical risks, minimal environmental impact and positive economic and social outcomes.

With the accelerating transition to renewables and electrification over the next decade, copper is forecast to become the world’s most in-demand metal. Located in the number one mining jurisdiction in the world the Project is one of very few large undeveloped copper projects globally that can be brought into production in this timeframe. The Project’s large resources, technical simplicity, access to existing infrastructure and a sound social, economic and political setting all contribute to the attractive investment fundamentals for the Project.