Castile's Rover 1 offers exposure to gold and copper for near‑term cashflow potential, alongside bismuth and cobalt, critical minerals facing tightening global supply and growing demand. Backed by a A$451m PFS NPV, high‑grade drilling, and multiple near‑term catalysts, the project provides potential pathway to re‑rating as it advances toward BFS.
Castile Resources Ltd (ASX:CST)
CST
Lead Manager
Contact - Jake Grbavac
0474 484 982
jake@liquidity.com.au
Offer Price
A$0.110
per share
Offer Size
A$6,000,000
Offer Details
Issue Price (Per Share)
A$0.110
Discount
-10.00%
Offer Size
A$6,000,000
Shares Available
54,545,454
The Company is seeking to raise approximately A$6 million at A$0.11 per New Share.
Directors of Castile have committed to participate in the Placement for approximately A$0.12 million
Discount
- 15.4% discount to last traded price
- 16.4% discount to 15-day VWAP
Documents & Downloads
Company Overview
Castile is an ASX-listed mining company focused on producing gold and downstream critical minerals in the Northern Territory. The Company completed a PFS on its flagship Rover 1 Project (“Rover 1”) in 2022 which recorded a pre-tax NPV of A$451.4m using materially lower metal price assumptions for gold and copper as well as no financial forecast / input from bismuth which is expected to materially lift the projected revenues of the Rover 1 in the upcoming BFS expected to be released around June 2026.
Investment Highlights
- High-grade IOCG project: Rover 1 highly leveraged to gold & copper (>80% of 2022 PFS revenues) with PFS prices well below current spot, offering strong upside into the BFS.
- Strong project economics: 6,900t Cu, 300t Co, 75,300t magnetite per year (2022 PFS).
- Bismuth upside: 8,900t resource not included in PFS; discussions underway for 99.99% pure production amid tight global supply and export controls.
- Prime location: Rover Mineral Field mirrors Tennant Creek, historically producing 4.6Moz Au & 350kt Cu.
- Exploration upside: 100+ IOCG-style anomalies identified; ANT seismic surveys deployed over priority targets with drill-ready results expected in 2026.
- Proven results: >90,000m diamond drilling with high-grade intercepts including 30m @ 36.5g/t Au, 21m @ 6.68% Cu.
- Government support: Major Project Status awarded; potential to leverage Middle Arm Sustainable Development Precinct for processing & renewable energy.
- Market context: Pan African Resources (~£3bn mkt cap) acquired nearby Tennant Consolidated Mining for US$54.2m.
Catalysts / Milestones
- Exploration Targets defined by Ambient Noise Tomography to be released in the near term for drilling in April/May 2026 (4 ANT Surveys Completed Awaiting Results)
- ANT Program Continues through to June 2027
- Rover 1 Bankable Feasibility Study Complete by June 2026
- Funding discussions underway with potential debt and offtake financiers
Use of Funds
Use of Funds
1.
Pilot Plant for Bankable Feasibility Study Completion – Expected June 2026
2.
Completion of Environmental Impact Statement
3.
Geotech Drilling
4.
Exploration drilling
5.
Corporate Costs and Working Capital
Disclaimer
This site does not constitute an offer, recommendation, or invitation to any person, nor does it purport to provide all of the information an interested party may require in order to investigate the affairs of Castile Resources Ltd. This site is provided for information only and has not been prepared with the intention that the recipient should rely on it. Liquidity Technology Pty Ltd ("Liquidity") does not make any representation in relation to the contents of this site or give any assurances as to the accuracy or the degree of care or diligence used in preparing this document. The information, data, and advice herein is provided to recipients on the clear understanding that Liquidity nor any of its representatives, directors, officers, employees, agents, or advisers makes any representation or warranty about its accuracy, reliability, completeness, or suitability for any particular purpose and does not accept liability (including, but not limited to, for any expenses, losses, damages, and/or costs (including, but not limited to, indirect or consequential damage)) nor take any responsibility of any kind whatsoever (including, but not limited to, whether in contract, tort, financial or otherwise) for the information, data, or advice contained in or for any omission or for any other information, statement, or representation provided to any recipient (including, but not limited to, as a result of information, data, or advice being inaccurate, unreliable, incomplete, or unsuitable in any way and for any reason whatsoever). Users of this site must conduct their own investigation and analysis regarding any information, statement, or representation contained or provided to any recipient or its associates by Liquidity or any of the Liquidity Personnel. Each recipient waives any right of action, which it has now or in the future against Liquidity or any of the Liquidity Personnel in respect of any errors or omissions on or from this site, however caused. All rights are reserved. If the whole or any part of a provision of this "Notice and Disclaimer" is invalid, illegal, or unenforceable, then such provision will be severed and neither that part or provision or its severance will affect the validity or enforceability of the remaining parts or provisions.
Disclosure of Interest: Liquidity receives commission from dealing in securities and its introducers of business may directly share in this commission. Liquidity and its associates may hold shares in Castile Resources Ltd.
