Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-23

Really surprised mate that during past 6 months the market cap of 13 mill hasnt gone up. Price is being supressed and whenever it looks like rising a large seller brings SP back down. at .005c 18mill shares are for sale consistently. Holding share price at .004c.

With the following summary of what is planed now, surely we should see some upside.

Once the drill hits further Bonanza High Grade extensions of swiftsure, this is going to be clearly be a major winner for any M&A. CAV managment clearly realise already there is a major resource and extremely valuable gold deposit at kookynkie. How would 110k ounces at 31g/t look like to the market!

Carnavale Resources submits Mining Licence Application for Swiftsure deposit at Kookynie Gold ProjectLast updated: 04:14 01 Aug 2024 BST First Published: 03:39 01 Aug 2024

Carnavale Resources Ltd (ASX:CAV) has moved closer to becoming a gold producer after submitting Mining Lease Application (MLA) M40/362 for the high-grade Swiftsure deposit with the Kookynie Gold Project in Western Australia.Swiftsure’s initial mineral resource estimate sits at 475,000 tonnes at 5.8 g/t gold for 85,000 ounces, with the bonanza zone containing about 53,000 ounces at 31.2 g/t.CAV has calculated a pre-tax net present value (NPV) of $91 million, with an internal rate of return of 192% at a gold price of A$3,500 per ounce (current prices sit above A$3,800).42KHelix Exploration unveils robust economics for Ingomar Dome helium project in MontanaNOWPLAYINGOverall, the company expects undiscounted cashflow of about $105 million from the deposit.Resource expansion in the works“The MLA represents an important milestone in the development of the Kookynie Gold Project,” Carnavale CEO Humphrey Hale said. “Swiftsure deposit is characterised by bonanza gold grades in plunging shoots.“We are only just getting started here and CAV looks forward to further exploration at Swiftsure and the nearby newly discovered prospects of Tiptoe and Valiant to expand the resource base which will add value to the Swiftsure deposit.”Carnavale has calculated pre-production capital expenses of $3 million with maximum drawdown in the realm of $12.9 million and a capital payback period of about 14 months.The MLA covers just over 355 hectares, a conversion of Prospecting Licences 40/1380 and 40/1381 and Exploration Licence 40/355.Advancing SwiftsureCarnavale is planning to undertake several studies and activities to advance the MLA, including:Flora and fauna surveys within the application area commencing this quarter to include measurement of spring fauna and flora activities.Negotiation of a workable Mining Agreement with representatives of the Nyalpa Pirniku people, holders of the Native Title.Geotechnical test-work on the planned open pit and underground; andObtaining various government approvals to mine including hydrological surveys and waste characterization studies.The company is also planning a suite of exploration programs to develop the greater Kookynie Project, includingrill testing the bonanza-grade shoots down dip beneath the Swiftsure planned development.Exploring the fresh rock potential of the newly discovered Tiptoe and Valiant along strike from the Swiftsure proposed pit.Continuing exploration of Champion South mineralisation; andContinuing metallurgical characterisation of Swiftsure mineralisation.