CAV
Carnavale Resources Limited
Metals and Mining
·
Materials
2
comments
1
fund manager
1
past 90 days
About Carnavale Resources Limited
Carnavale Resources Ltd. is an Australian mineral exploration and development company established on April 28, 2006. Headquartered in Mount Hawthorn, Australia, the company operates via two primary segments: Investing Australia and Mineral Exploration Australia. Its core business focuses on the identification, exploration, and development of mineral properties.
Commentary Volume
2
Comments
1
Fund managers
1
Past 90 days
SOURCE
ACTION
COMMENT PREVIEW
FUND MANAGER
DATE
The manager continues to hold Carnavale Resources because the Swiftsure and Tiptoe deposits in WA's Eastern Goldfields are central to the investment thesis. A 2025 scoping study suggested a five-year operation producing 93,000oz at 3.1g/t gold with a 14-month payback and $237m of free cash at A$5500/oz. The crown jewel is the high-grade bonanza zone of Swiftsure, with 60,000t containing 28.3g/t Au for 55,000oz. The high-grade, near-surface, open-pittable ore can travel to any plant within a 200km radius and still make a handsome margin, with a planned open pit transitioning to underground. The low capital hurdle for $200m-plus of cash flow contrasts favourably with low-grade projects requiring hundreds of millions to develop. The fund held 5.7% of the company as of late November.
Source: Lowell Resources Funds Management Article · Published: 09 Dec 2025 · Price: ~$0.09
09 Dec 2025
LM
Lowell Resources Funds Management
No Change
Article
The manager continues to hold Carnavale Resources because the company has a super high-grade component of its deposit just outside Koolynie running at an ounce per tonne, meaning fuel price is not material to a high-grade underground project. The 117,000oz Koolynie project in WA includes a component of 55,000t at 28.3g/t, meaning less material movement and less exposure to haulage costs.
Source: Lowell Resources Funds Management Article · Published: 17 Mar 2026 · Price: ~$0.12
17 Mar 2026
LM
Lowell Resources Funds Management
The manager continues to hold Carnavale …
No Change
Article
§ Important Notice
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Commentary
Sector
Materials
Market cap
$43M
Fund managers
1 manager
First covered
9 Dec 2025
Last updated
17 Mar 2026
Company Details
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§ Reminder
The entries above are records originating from third-party statements. Thesis Tracker does not rank, recommend or endorse any fund manager, fund or security. Investment decisions should be made on the basis of the relevant Product Disclosure Statement and, where appropriate, advice from a licensed adviser.
Frequently asked questions about Carnavale Resources Limited (ASX:CAV)
Frequently asked questions
Who is investing in Carnavale Resources Limited (ASX:CAV)?
Fund managers including Lowell Resources Funds Management have invested in Carnavale Resources Limited (ASX:CAV).
What is the short interest in Carnavale Resources Limited (ASX:CAV)?
According to ASIC filings, there is negligible or no short interest in Carnavale Resources Limited (ASX:CAV).
What does Carnavale Resources Limited (ASX:CAV) do?
Carnavale Resources Ltd. is an Australian mineral exploration and development company established on April 28, 2006. Headquartered in Mount Hawthorn, Australia, the company operates via two primary segments: Investing Australia and Mineral Exploration Australia. Its core business focuses on the identification, exploration, and development of mineral properties.
The manager continues to hold Carnavale …