Caravel Minerals (CVV) H1 2026 earnings summary

Executive summary

• Focused on developing a large-scale, long-life copper project in Western Australia’s Southwest Yilgarn Terrane.

• Drew a $15 million loan from Regal Resources Royalties Fund and issued significant options to employees, directors, and landholders.

• No significant events or changes occurred after the reporting period.

Financial highlights

• Net loss for the half-year ended 31 December 2025 was $9,919,270, compared to $4,511,806 for the same period last year.

• Basic and diluted loss per share was 1.78 cents, compared to 0.85 cents in the prior year.

• Net current assets at 31 December 2025 were $14,147,305, up from $5,044,755 at 30 June 2025.

• Cash and cash equivalents increased to $15,371,857 from $5,545,633 at 30 June 2025.

• Net cash outflow from operating activities was $5,161,136, compared to $4,552,773 in the prior year.

Outlook and guidance

• Directors believe the group will continue to secure additional funds through equity issues as needed.

• Business strategies include maximizing value through copper project development and selective expansion of exploration assets.