Key highlights

  • Stavely Minerals Ltd (ASX:SVY) touched a 52-week low during the 20 October 2026 session and closed at $0.012, down 7.69%.
  • Stavely said on 13 October 2026 that it will study small-footprint underground and hybrid Options at Thursday’s Gossan.
  • The earlier scoping study outlined a pre-tax NPV of A$818 million and an IRR of 40% for a large-scale three-stage open pit.

Stavely Minerals Ltd (ASX:SVY) touched a 52-week low during the Trading session on 20 October 2026 and closed at $0.012, down 7.69%. Stavely’s latest announcement covered here was released on 13 October 2026 and said it would study alternative development options for the Thursday’s Gossan copper-gold project in Western Victoria. No latest announcement has driven the share price move, so the announcement is described below on its own terms.

About Stavely Minerals

Stavely Minerals Limited is an Australian explorer based in Nedlands, Western Australia, focused on its 100%-owned Stavely Copper-Gold Project in western Victoria. The Thursday’s Gossan copper-gold-silver deposit is part of that project.

The scoping study outcomes

In a scoping study announced on 10 August 2026, Stavely outlined a new copper-gold operation based on a large three-stage open pit and 4 million tonnes per annum processing. The study’s forecast outcomes were a pre-tax NPV at a 7% discount rate of A$818 million, an IRR of 40%, projected payback in 2.5 years of production, average annual free Cash Flow of about A$110 million and net cash flow from operations of A$1.4 billion.

Life-of-mine all-in sustaining costs were US$3.76 per pound of copper, and US$2.75 per pound for the first three years.

Alternative development options

On 13 October 2026 Stavely said it has started studies of other development options, including a small-footprint underground mine focused on the high-grade Cayley Lode (9.1 million tonnes at 1.6% copper equivalent, comprising 1.2% copper, 0.27 g/t gold and 8.4 g/t silver), a hybrid development with a starter open pit transitioning to underground, and a separate option to heap-leach the chalcocite-enriched blanket (22 million tonnes at 0.39% copper).

The studies will compare Capital requirements and efficiency, processing rates, metal production and revenue, and the relative costs and processing options, including standalone treatment, toll treatment or ore sales, to determine the best development pathway.

Sector backdrop

Copper-gold projects at scoping stage involve wide ranges of capital and operating cost estimates, and companies often test smaller or staged developments to reduce upfront capital. Victoria has a limited number of new base metal mines, so permitting and community engagement are important parts of project timelines.

Scoping studies are early-stage assessments that rely on preliminary resource and engineering inputs.

Risks shareholders should weigh

A scoping study is a preliminary assessment and does not establish economic viability, and the company is now evaluating alternatives to the large-scale option, which suggests that the original plan’s scale or capital requirements could change. The results of the new studies are not yet known.

Stavely is an explorer without production revenue, and any development would require significant funding and approvals.

What’s next

The company’s next milestone is completion of studies comparing the small-footprint underground, hybrid and heap-leach options, which are intended to provide the information needed to select a development pathway.