Caravel Minerals Limited (ASX:CVV) entered into a binding agreement to acquire E70/5442 Tenement from Enegex Limited (ASX:ENX) for AUD 0.325 million on March 3, 2023. Caravel will provide an uncapped 2.5% net smelter royalty from any mineral production within E70/5442, cash payment of AUD 0.075 million, surface sample database across Enegex?s West Yilgarn tenure area, including proprietary roadside surface sample assay results collected by Dominion Mining between 1998 and 2011, with an agreed value of AUD 0.25 million, Access to pulp residues from samples within Enegex?s West Yilgarn tenure area and Exploration data generated from Caravel?s activities to be undertaken in E70/5442. The transaction is expected to complete before the end of March 2023.

Caravel Minerals Limited (ASX:CVV) completed the acquisition of E70/5442 Tenement from Enegex Limited (ASX:ENX) on November 27, 2023.