Ottomin is pleased to announce it has signed a non-binding term sheet for a A$5 million Gold Loan facility for the Crawford Gold Project being developed by Cavalier Resources Ltd (ASX:CVR). Cavalier Resources Ltd has also executed a non-binding term sheet for a US$13m (~A$18.7 million) Gold Sale and Purchase Agreement with Raptor Capital International Ltd.
These facilities are subject to binding documentation and the satisfaction of due diligence. The execution of the term sheet is a material step forward in the funding certainty of the Stage 1 Crawford open pit.
The Crawford Gold project is located 20 kilometres east of Leonora in Western Australia. Crawford is a shallow depth mine with close proximity to existing processing infrastructure including nearby third-party mills. Cavalier Resources Ltd has already completed key technical studies and environmental surveys.
The Ottomin Group has strong track record of funding mining companies whilst leveraging the Group’s extensive knowledge in precious metals resources financing and commodity-based royalties – in particular gold royalties.
Richard Kovacs, The Ottomin Group Chairman and CEO, commented: “We are excited to be proceeding to formal documentation following the execution of the non-binding Term Sheet with Cavalier Resources Ltd and Raptor Capital International Ltd. This step provides significantly improved certainty for the project that we expect will underpin future growth”.
For the Cavalier Resources Ltd ASX Annoucement 26 March 2026 please visit here.
