A world class copper porphyry in our own backyard.
We initiate coverage of CVV with a SPECULATIVE BUY recommendation and a price target of $0.50.
Caravel Minerals Limited (CVV-ASX) is advancing the large Caravel Copper Project, located 150km northeast of Perth, Western Australia. The project occupies broad acreage, marginal farmland within a growing region of geological significance owing to Chalice Mining's (CHN-ASX | Not Rated) 2020 PGM-Ni-Cu discovery at Gonneville (Julimar), 70km to the southwest. The Southwest (geological) Terrane, which hosts both Caravel and Gonneville, also hosts globally significant mines including Boddington (Au) and Greenbushes (Li).