Stavely Minerals' Thursday's Gossan Copper-Gold Scoping Study Nears Completion, Market Release Slated for Late July 2026

Thursday's Gossan and Cayley Lode Deposit Central to Stavely Minerals’ Scoping Study

The Thursday's Gossan and Cayley Lode deposit is the focal point of Stavely Minerals’ current evaluation efforts within the company’s wholly owned Stavely Project in western Victoria. This project has been a key target over recent years as Stavely Minerals advances one of Australia’s promising copper-gold discoveries in a region gaining increasing mining industry interest. The deposit features polymetallic mineralisation, including copper, gold, and silver, offering exposure to multiple commodity markets simultaneously.

Stavely Minerals Limited operates from Nedlands, Western Australia, primarily as a minerals explorer and developer. Its main revenue strategy revolves around progressing the Stavely Project through exploration and study phases toward a potential development decision. The Thursday's Gossan Scoping Study is a pivotal step in evaluating the deposit’s commercial mining viability. This early-stage assessment examines technical and economic factors to establish a foundation for future detailed feasibility studies.

Mincore Engineering Completes All Critical Technical Work Ahead of Final Report

Per the company update, Melbourne-based Mincore Engineering, Stavely Minerals’ lead engineering consultant, has completed all vital technical study components required for the Scoping Study. The delay in releasing the study pertains solely to administrative and documentation matters rather than technical issues. Stavely Minerals confirmed that all substantive analytical and engineering work has been concluded, with only the final report documentation pending.

The technical work completed spans multiple disciplines essential to a credible Scoping Study. Mineral Resource Estimates, referenced in a prior update dated 17 March 2026, are finalized. Metallurgical test work assessing ore processing for copper, gold, and silver recovery is complete. Process plant design and equipment specifications, open pit optimisations, mining fleet selection, and production scheduling analyses have also been carried out. Additionally, operating and capital cost estimates, alongside a discounted cashflow model—a key indicator of potential project economics—have been developed.

Delay Attributed to Personal Circumstances Affecting Lead Author at Mincore Engineering

Stavely Minerals openly communicated that the delay in finalising the report documentation stems from unforeseen personal circumstances impacting the Scoping Study’s lead author at Mincore Engineering, who is currently caring for a close family member in palliative care. The company extended its sympathies and support to the individual, highlighting the human element behind the delay.

This transparent disclosure provides shareholders with a clear explanation for the timeline adjustment, distinguishing it from generic delay notices. Importantly, the delay does not reflect any technical complications or changes in the study’s scope or methodology. Stavely Minerals expressed confidence that all key Modifying Factors—criteria under the JORC Code applied to convert Mineral Resources into Ore Reserves—have been addressed appropriately for a Scoping Study.

Scoping Study Release Now Targeted for End of July 2026

The company confirmed the completed Scoping Study is expected to be released to the market nearer to the end of July 2026. Although no exact date was specified, this guidance offers investors a clear near-term timeline to monitor. The study’s publication will mark a major milestone for Stavely Minerals and is likely to be one of the company’s most comprehensive disclosures this year, given the extensive technical and economic data it will contain.

For shareholders awaiting this study, the confirmation that all technical work is complete provides reassurance that the outcome is imminent. Executive Chairman and Managing Director Chris Cairns thanked shareholders for their patience and ongoing support. The next critical step is the formal release of the Scoping Study, enabling investors, analysts, and industry participants to evaluate the project’s scale, cost structure, and economic potential in a consolidated format.

Insights from Discounted Cashflow Model and Cost Estimates on Stavely Project’s Viability

Among the most anticipated elements of the Scoping Study are the discounted cashflow model and the operating and capital cost estimates, all confirmed as completed. The discounted cashflow model is a standard mining financial tool estimating a project’s net present value by projecting revenues and costs over its anticipated life, discounted to present value. Specific assumptions such as commodity prices, discount rates, project duration, and cashflow projections have not been disclosed ahead of the study’s release.

Similarly, capital cost estimates, which outline expenditures required to build and commission mining and processing infrastructure at Stavely, remain undisclosed in this update. Operating cost estimates, reflecting ongoing production expenses for copper, gold, and silver, will also be detailed in the final report and are expected to attract significant market attention once published.

March 2026 Mineral Resource Estimates Form Foundation of Scoping Study

The Scoping Study builds upon Mineral Resource Estimates disclosed in an earlier company update dated 17 March 2026. These estimates define the quantity and grade of mineralisation identified within the deposit, serving as the geological foundation for the study. While this article does not reproduce those figures, the reference confirms that resource estimation work underpinning the Scoping Study was completed and publicly disclosed several months prior.

The polymetallic nature of the Thursday's Gossan and Cayley Lode deposit requires the study to address processing and marketing strategies for multiple metals. Completed metallurgical test work has informed ore recovery methods, influencing process plant design and feeding into operating cost and revenue assumptions within the discounted cashflow model. Together, these interconnected components provide the technical basis for the awaited economic assessment.

Open Pit Optimisations and Production Scheduling Indicate Surface Mining Approach

The completion of open pit optimisations, mining fleet selection, and production scheduling as part of the Scoping Study suggests that open pit mining is the primary extraction method under consideration for the Thursday's Gossan and Cayley Lode deposit. Open pit optimisation uses geological and economic data to define the most economically viable pit design, considering ore grades, pit slopes, strip ratios, and commodity price assumptions.

Mining fleet selection identifies appropriate equipment such as excavators, haul trucks, and drills, directly impacting capital and operating cost estimates. Production scheduling determines the sequence and rate of ore and waste extraction over the mine life, crucial for revenue projections in the cashflow model. The completion of these elements confirms the study’s adherence to Australian industry standards for Scoping Studies.

Stavely Minerals’ Full Ownership and Western Victoria Location Offer Strategic Advantages

Stavely Minerals’ 100% ownership of the Stavely Project means the company retains full economic exposure to any value generated from the Scoping Study outcomes, without dilution from joint ventures or partnerships. The project’s location in western Victoria benefits from established mining regulations and infrastructure, including road and power networks relevant to potential development.

While western Victoria has historically been less prominent than regions like Western Australia or Queensland, the Stavely mineral belt has attracted growing attention as a promising copper-gold area. Stavely Minerals has invested significant exploration and study resources here in recent years. The company’s head office is in Nedlands, Western Australia, a common base for Australian mining firms. Chris Cairns serves as both Executive Chairman and Managing Director, reflecting a streamlined leadership structure typical of junior and mid-tier explorers. Investor relations are managed by Read Corporate, with Nicholas Read as media contact.

Investor Risks to Consider Ahead of Scoping Study Publication

Although the forthcoming Scoping Study release is a key near-term catalyst for Stavely Minerals, investors should recognize the inherent risks at this early project stage. Scoping Studies involve higher uncertainty than more advanced Prefeasibility or Definitive Feasibility Studies. Economic outcomes such as cost estimates and cashflow projections carry wider accuracy ranges and should be interpreted accordingly.

Specific risks for Stavely Minerals and the Stavely Project include commodity price volatility affecting copper, gold, and silver, regulatory and environmental permitting challenges in western Victoria, and the need for additional funding beyond the Scoping Study phase, the timing and form of which remain undisclosed. The immediate impact of this update on the company’s share price was not evident from available public data.