ASX-listed junior Caravel Minerals is studying a new copper project in the Wheatbelt district of Western Australia, in which Canada-based First Quantum could earn a stake.
Caravel on Tuesday published the Calingiri scoping study results, which confirmed that the project could be a low-cost, mid-tier producer. The study contemplated the codevelopment of three openpits, about 120 km northeast of Perth.
