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Amidst the many copper plays of Tennant Creek, we focus on a silent achiever – one that stands markedly advanced in its progress relative to its peers yet continues to trade at a lower valuation. With the arrival of a Bankable Feasibility Study (BFS) to de-risk its project further, we think that this company is quietly building momentum with the market yet to catch on.
Castile Resources (ASX: CST, OTCQB: CLRSF) is a Perth-based junior explorer with projects in the Northern Territory. With its 100%-owned flagship project ‘Rover 1’, CST offers investors exposure to copper, gold, cobalt, iron and bismuth.
Investor Highlights
- Advanced Project with Proven Economic Feasibility - Bankable Feasibility Studies (BFS) due with previously outstanding Preliminary Feasibility Studies (PFS) results developed on an older resource.
- High-grade Copper Offering - JORC 2012 Resource at ‘Rover 1’ of 7.86Mt @ 1.24% Cu. CST also currently have the largest bismuth resource in Australia (8,900t @ 0.11%).
- Government Support - In 2024, CST was labelled with ‘Major Project Status’ by the Northern Territory Government, supporting the project in becoming a major supplier within the state. CST has previously received exploration grants from the State Government.
- Favourable Jurisdiction and Infrastructure - Rover 1 is just south of Tennant Creek which hosts multiple copper-gold projects for Tennant Minerals (ASX: TMS), True North Copper (ASX: TNC), Emmerson Resources (ASX: EMR), CuFe Limited (ASX: CUF) and Pan African Resources (LON: PAF). Tennant Creek has historically produced over 4.6Moz of gold and 350kt of copper. The Rover 1 project has strong supporting infrastructure, with the Stuart Highway within ~60km, access to the Adelaide-Darwin Railway Line and the Amadeus Natural Gas Pipeline.
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