Business
Why the Caravel (ASX:CVV) share price is up 8% today
The Caravel Minerals Ltd (ASX: CVV) share price on the move today. This comes after the company announced it has been granted a new exploration licence.
On news of the release, the Caravel share price rose to an intraday high of 25 cents and has now dipped slightly to 24 cents, up 8.89% at the time of writing.
About Caravel
Based in Western Australia, Caravel is a gold, copper and base metals exploration and resource development company.
Its flagship Caravel Copper project, located north-east of Perth, is currently engaged in a feasibility study to determine future development. On initial estimates, the site has a mineral resource of 661.9 million tonnes of copper at a grade of 0.28%. This makes it one of the largest untapped…
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