Cavalier Resources Limited (ASX: CVR) explores gold, lithium and nickel in Western Australia. Its flagship Crawford Gold Project (east of Leonora) hosts a high-grade, near-surface JORC (2012) Mineral Resource of 117,800oz Au @ 1.7g/t. An updated Stage 1 Pre-Feasibility Study (April 2026) reported a post-tax NPV of A$77.2M (up ~50% from the prior estimate) at a A$6,500/oz gold price, with total capex of A$20.2M, processing costs of A$10.81/tonne, an IRR of 385% and a 9.3-month payback at base case; sensitivities range from A$56.6M NPV at A$5,500/oz to A$128.8M NPV at A$9,000/oz. Stage 1 targets 23,467 recovered ounces over an 18-month mine life at a C1 cost of A$1,574/oz and a C3 cost of A$1,793/oz (2025 PFS vintage; not restated in the April 2026 update). All heritage surveys across the Stage 1 operational area were completed June 2026 under a Native Title and Mining Agreement with the Wangkatja Tjungula Aboriginal Corporation (executed Dec 2025), and a Pre-Production Placement raised A$4M (April 2026).
Lifecycle Milestones
Not in place: tailings facility. Not yet determined: mill, grid power.
Jurisdiction (40%)9/10
Western Australia: Fraser PPI 2025 is 88.53 of 100 (rank 13 of 68), which maps to 9 on this site's scale. Crawford Gold Project, east of Leonora, WA -- Australia Tier-1 convention.
Infrastructure (40%)5.7/10
Confirmed road access and no confirmed tailings facility at Crawford Gold Project, Leonora, Western Australia; existing mill and grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)9.6/10
Leonora (Gwalia plant) (Genesis Minerals Limited) is 25 km away -- within regional-platform range.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not scored
No producer holds a disclosed stake on file (holder register researched) See holders
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:7.5/10
Nearest producing mine: Leonora (Gwalia plant) (Genesis Minerals Limited), 25 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:8/10
Stage: Pre-Feasibility Study
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Australia: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
Executive Chairman of Cavalier Resources Limited (ASX: CVR); also Executive Director of Panther Metals Ltd. Chartered Accountant with over 30 years' experience in financial and executive management, accounting, audit, business and corporate advisory; has acted in an advisory capacity on more than 40 initial public offerings and other recapitalisations and re-listings of ASX companies over the last 20 years. Also a director of ASX-listed Australian Gold & Copper Limited, Lycaon Resources Limited and East Energy Resources Limited.
Managing Director and Chief Executive Officer of Panther Metals Ltd (ASX: PNT), a Perth-headquartered company focused on exploration and production of nickel-cobalt and gold projects; also Executive Technical Director of Cavalier Resources Limited.
Non-Executive Director of Cavalier Resources Limited (ASX: CVR), an independent director since 2021. Managing Director of Auralia Mining Consulting; Member and Chartered Professional (CP Mining) of The Australasian Institute of Mining and Metallurgy, with expertise relevant to ore reserves and mining methods. Source: cavalierresources.com.au's own Board & Management page.
Non-Executive Director of Cavalier Resources Limited (ASX: CVR), appointed effective 1 December 2025; the company's own page lists him as 'William (Bill) Oliver'. Geologist with over 25 years of experience in the international resources industry with both major and junior companies, spanning all aspects of exploration, the design/evaluation/implementation of resource-definition programmes, resource modelling and inputs into all levels of mining and feasibility studies. Extensive experience developing gold deposits in Australia and overseas, bringing multiple projects into production. Has a long history with the Crawford Project, having been one of the founders of Roman Kings (the project's former owner) and responsible for planning and executing the 2017 drill programme that informed the 2017 MRE. Member of the AusIMM and the AIG; honours degree in Geology, University of Western Australia. Source: Cavalier's own 1 Dec 2025 ASX announcement 'Appointment of New Director'.
Chief Operating Officer of Cavalier Resources Limited (ASX: CVR), the operational lead as the company moves its Stage 1 Crawford Gold Project (east of Leonora, Western Australia) from an April 2026 updated Pre-Feasibility Study into site preparation and mining-contractor award through 2026. Source: cavalierresources.com.au's own Board & Management page.
General Manager of Operations of Cavalier Resources Limited (ASX: CVR), responsible for on-the-ground delivery of the Stage 1 Crawford Gold Project in Western Australia. Source: cavalierresources.com.au's own Board & Management page.
Chief Financial Officer of Cavalier Resources Limited (ASX: CVR); also Chief Financial Officer & Joint Company Secretary of Panther Metals Ltd.
Company Secretary of Cavalier Resources Limited (ASX: CVR), named as the company's Company Secretary on its own Corporate Directory alongside a Perth registered office at Level 2, 22 Mount Street. Source: cavalierresources.com.au/about-us/corporate-directory/.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
No smart-money tracking (institutional/large-investor activity) for this miner yet — this is a planned feature, not live data.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
A plain-language summary of this company's technical-report findings isn't written yet. See the cited figures on this page and the documents below.