Carnavale Resources CEO Humphrey Hale talked with Proactive about the company’s key milestones and priorities throughout 2025, with a strong focus on advancing the Kookynie Gold Project towards a shovel-ready status.
Hale identified three major highlights from the year: the release of an updated scoping study, which delivered over A$240 million in free cash flow and a A$188 million NPV using a A$2,400 gold price; a successful capital raise of A$7 million through a placement and rights issue; and the transition into a Bankable Feasibility Study (BFS) phase.
He emphasised that Carnavale has shifted from exploration to development, stating: “It’s always been leading to moving from exploration developer into doing a bankable feasibility study and getting that project shovel ready — and we’re right here right now.”
On financials, Hale confirmed the company is in a strong position, with sufficient funds allocated for the BFS and additional exploration across its tenement package. He also addressed investor concerns about the pending mining licence, clarifying that a heritage agreement is in its late stages and is expected to unlock the approval.
Looking ahead to 2026, Carnavale plans to advance key BFS components including geotechnical drilling, metallurgy, and hydro analysis, while also conducting targeted exploration around the Sorrento pits within the Kookynie Project area.
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