Cavalier Resources (ASX:CVR) edges closer to production as gold price soars
February 13, 2025In a gold sector where ounces matter but execution matters more, Cavalier Resources (ASX:CVR) is positioning itself as a player that doesn’t just talk the talk but gets the approvals in place and the work done.
With all regulatory submissions now finalised for Stage 1 of its Crawford Gold Project, the company is edging closer to production – and it’s doing so at a time when gold prices are in record-breaking territory.
A Step Closer to First Gold
The gold industry is littered with projects that stall at the approvals stage, but Cavalier Resources has taken a methodical approach.
The company announced that it has now submitted all required compliance reports, works approvals, and applications to regulatory authorities.
Notably, the Project Management Plan has already been approved, while the Native Vegetation Clearing Permit and water applications are in their final assessment stages.
“This milestone represents a significant step forward towards commencement of mining activities at the Crawford Gold Project,” said CEO Daniel Tuffin.
“The completion and submission of all mining approval works marks the culmination of a large workload of compliance requirements, comprising onsite activities, laboratory tests, multiple technical studies, a Pre-Feasibility Study, mine and process planning and finally permitting reports and applications.”
For a junior gold company, navigating the approvals process is often a defining moment—either it signals an inevitable march towards production or a roadblock that can stall momentum for years.
Cavalier appears to be firmly in the former camp.
Funding on the Horizon
With approvals out of the way, the focus now shifts to financing.
The company is deep in discussions with gold streaming funds and potential mining joint venture partners. Importantly, Cavalier has expressed a clear preference for funding solutions that avoid shareholder dilution.
If secured, the funding package would not only cover the costs of developing Stage 1 but also enable further near-mine drilling aimed at upgrading resources to ore reserves and evaluating additional open pit stages.
A Favourable Gold Price Environment
Timing is everything in mining, and Cavalier’s Crawford project is advancing in a bullish gold price environment.
While its March 2024 Pre-Feasibility Study (PFS) was based on a conservative gold price of A$2,900 per ounce, today’s spot price is well above that level.
The PFS estimated an ore reserve of 1,002,000 tonnes at 0.9g/t for 29,300 ounces of gold, translating into a pre-CAPEX undiscounted cash flow of A$24.6 million.
With gold now trading significantly higher, the project’s financial metrics have strengthened accordingly.
What’s Next?
With approvals in hand and financing discussions progressing, Cavalier is now pushing forward with process plant designs and equipment procurement.
Consultation with traditional owners also remains a key focus as the company works towards finalising native title agreements.
For investors, the next catalyst will be the announcement of a funding deal.
With gold sitting at historic highs and Cavalier progressing all the right steps towards production, the company is shaping up as one of the more interesting small-cap gold stories on the ASX in 2025.
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