The BFS supports a maiden open-pit Ore Reserve of 220,000 tonnes at 5.0 grams per tonne gold for 35,600 ounces across the Swiftsure and Tiptoe deposits. The proposed mine plan has an 18-month life and excludes underground reserves.
At a base-case gold price of A$6,000 per ounce, Carnavale projects pre-tax free cash flow of A$104 million, an NPV8 of A$87 million and a pre-tax internal rate of return of 417%. These are study estimates based on stated assumptions.
Carnavale said it has approved progression toward a final investment decision in the first half of 2027. The proposed development remains contingent on statutory approvals, securing a toll milling or ore purchase agreement, contracting key services and obtaining project funding.
Open-pit production is scheduled to commence in the second half of 2027, subject to a positive final investment decision and approvals being granted within a reasonable timeframe.
Source: Download CAV official ASX announcement, 2026-10-26.
Technical figure from Carnavale Resources' Kookynie Gold Project Bankable Feasibility Study announcement dated 26 October 2026.