Stavely Minerals is advancing its 2026 Scoping Study for the Stavely Copper-Gold Project, targeting a significant production scale boosted by strong copper, gold, and silver prices. The company aims to outline a pathway to over 10 years of mine life with a mid-year study delivery.
- Progress on updated Mineral Resource Estimates and process plant design
- Targeting approximately 20,000 tonnes per annum copper-equivalent production
- Significant metal price increases since 2022 improving project economics
- Study delivery targeted for mid-2026 with independent study manager appointed
- Supportive permitting environment in Victoria with recent approvals
Stavely’s 2026 Scoping Study Takes Shape
Stavely Minerals Limited (ASX – SVY) has reported strong early progress on its updated 2026 Scoping Study for the Stavely Copper-Gold Project in western Victoria. The study focuses on the Thursday’s Gossan and high-grade Cayley Lode deposits, aiming to demonstrate a clear pathway to production at a scale that could attract institutional investors.
Key workstreams are advancing rapidly, including revised Mineral Resource Estimates, process plant redesign, and optimisations of both open pit and underground mining operations. The company has also engaged an independent engineering group to manage the study, with a targeted completion date set for mid-2026.
Metal Prices Drive Renewed Optimism
The impetus for updating the Scoping Study stems from substantial increases in copper, gold, and silver prices since the previous 2022 study. Copper prices have risen by over 30%, gold prices have more than doubled, and silver prices have nearly quadrupled in US dollar terms. These gains, combined with a favourable Australian dollar exchange rate, significantly enhance the project’s financial outlook.
Stavely’s Chair and Managing Director, Chris Cairns, highlighted that the company believes the value of its assets is not fully reflected in its current market capitalisation. The updated study aims to provide a detailed and contemporary financial model that incorporates current metal prices and exchange rates, offering investors a clearer valuation benchmark.
Pathway to Production and Mine Life Extension
The company targets a production scale of approximately 20,000 tonnes per annum of copper-equivalent metal, factoring in gold and silver credits. This scale is considered sufficient to attract institutional interest and support a potential mine life exceeding 10 years. Stavely also notes significant near-resource and regional exploration opportunities that could extend this production window further.
Recent approvals by Victorian authorities for major mining projects and underground exploration declines suggest a supportive regulatory environment, which bodes well for Stavely’s permitting prospects.
Looking Ahead
While the financial outcomes of the updated Scoping Study remain preliminary, the company expects to deliver a comprehensive report by mid-2026. This will provide a critical foundation for investors to reassess the project’s value and potential. Stavely’s management is optimistic that the combination of improved metal prices, enhanced resource quality, and strategic study updates will deliver a step-change in project economics compared to the 2022 assessment.
Bottom Line?
Stavely’s mid-2026 Scoping Study update could redefine its market value amid a buoyant metals environment.
Questions in the middle?
- How will the updated Mineral Resource Estimates impact the overall project valuation?
- What are the key risks in securing permits and approvals in Victoria’s evolving regulatory landscape?
- How might fluctuating metal prices affect the final financial outcomes of the Scoping Study?