2022 Pre-Feasibility Study Update Caravel Minerals 20 September 2022

2022 Pre-Feasibility Study Update


This Pre-Feasibility Update (PFS Update) announcement is further to the Caravel Copper Project Pre-Feasibility Study and Maiden Ore Reserve announcement (PFS) reported on 12 July 2022.

The PFS outlined opportunities for improvements to the process plant, including consolidation of the plant into a single ~27Mtpa throughput train, the use of High-Pressure Grinding Rolls (HGPR) to replace Semi-Autogenous Grinding (SAG) Mills and the adoption of Coarse Particle Flotation (CPF).

PFS Update studies into these opportunities have been undertaken by the PFS engineers, Ausenco Services Pty Ltd (Ausenco).

This PFS Update reports on the capital and operating cost savings that may be achieved from adopting these initiatives. Other elements of the Caravel Copper Project as described in the PFS are unchanged.

This announcement should be read along with the Cautionary Statement and the 12 July 2022 PFS.