Carnavale Resources Limited is an Australian exploration company based in Subiaco, Western Australia with a focus on exploration of gold and precious metals. Carnavale is listed on the Australian Securities Exchange (ASX), ticker symbol [CAV] and on the German Stock Exchange in Frankfurt under YBB.
Carnavale has entered an agreement giving it the option to acquire the rights to two highly prospective gold-silver-copper projects in Arizona and Nevada, USA from Tojo Minerals Pty Ltd (“Tojo”). Carnavale has entered into an option agreement with Tojo whereby Carnavale can acquire all of the issued shares in Tojo within a seven-month period. Carnavale believes the US is highly prospective for gold and base metals.
The Company is in a joint venture regarding the Long Horse Project, southwest of Coolgardie in WA.
Carnavale also retains a net production royalty of up to US$2million which may arise from any future commercial production from the Lambouka Oil and Gas Project, located offshore between Italy and Tunisia.