** Shares of Caravel Minerals CVV.AX rise 7.4% to A$0.145, their highest level since April 16

** Stock set for its strongest session since April 10 - if current trends hold

** Mineral miner yields high-grade copper, molybdenum and precious metals due to a simplified process design at the Caravel Copper Project in Western Australia (WA)

** Co says this sets the stage for cost savings by streamlining plant design

** About 321,646 shares change hands, 1.3x the 30-day average of 242,025 shares

** Stock down 23.7% YTD, including current session's moves

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))