Caravel Minerals Limited (AU:CVV) has released an update.
Caravel Minerals Limited has successfully raised $5 million through a share placement, attracting significant interest from both domestic and international investors. The funds will be used to advance the Caravel Copper Project in Western Australia, focusing on feasibility studies and infrastructure development. The placement, managed by Canaccord Genuity and Cumulus Wealth, saw new shares issued at a discount, highlighting investor confidence in the project’s potential amid a challenging market.
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