CASTILE RESOURCESInvestor Pack

Gold, Copper and Critical Minerals in the NT

Castile Resources (ASX:CST) has completed the 2026 Rover 1 Scoping Study on the Rover 1 Project near Tennant Creek in the Northern Territory. The mine contains gold and copper as the key metals; critical minerals bismuth and cobalt as by-products along with a high grade magnetite. The study models a two-stage development: an underground mine and a modern 750,000 tpa processing plant at Rover 1, then a refining facility at the Middle Arm Sustainable Development Precinct in Darwin.

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August 2026 Rover 1 Scoping Study

The 2026 Scoping Study models Rover 1 as a two-stage development showing a 750,000 tpa underground mining and processing operation with an 11-year initial mine life.

  • A$1.07BRover 1 pre-tax NPV8A$218.4M Annual Average Cashflow
  • A$4.78BTotal project revenuesA$477.2M Annual Average Revenue
  • 59.0%Pre-tax IRR76.9% Using Upside Case Price Assumptions

The Rover 1 Project

A high-grade Iron Oxide Copper Gold (IOCG) deposit containing five metal products producing five revenue streams.

Rover 1 is a high-grade Iron Oxide Copper Gold (IOCG) deposit beneath the Rover Mineral Field, 57 km from Tennant Creek.

The Rover 1 Scoping Study models an underground mine build with a modern 750,000 tpa processing plant focussed on the production of gold, copper, bismuth, cobalt and magnetite downstream products in Stage Two, and delivering robust operative and financial outcomes with an initial project life of 11 years.

At steady state the study models 750,000 tonnes of ore a year producing roughly 26,800 ounces of gold, 7,200 tonnes of copper, 500 tonnes of bismuth, 300 tonnes of cobalt and 108,800 tonnes of magnetite — around A$477.2M of revenue in an average year.

Stage One funds Stage Two: Cashflows from Stage One concentrate sales pay for the Stage Two processing facility at the Middle Arm Sustainable Development Precinct in Darwin, so the downstream position is built out of the mine's own cash flow.

Project life revenue by stream

  • GoldA$1.92B40%
  • CopperA$1.71B36%
  • BismuthA$595M12%
  • MagnetiteA$331M7%
  • CobaltA$232M5%

Sources: “Updated 2026 Rover 1 Scoping Study Produces Outstanding Results”, ASX:CST, 28 August 2026 · Mineral Resource update, ASX:CST, 20 October 2025. A scoping study is a preliminary study; the cautionary statement that goes with these figures is on the Rover 1 page.

AustraliaThe Rover 1 Project

Map of Australia marking the Rover 1 Project near Tennant Creek in the Northern Territory with a Castile Resources pin.

Why Castile

The investment case.

  1. Advanced development project

    The 2026 Rover 1 Scoping Study is complete with Bankable Feasibility Study due later in 2026.

  2. Polymetallic exposure

    Gold and copper as the key metals carry the project and offer a “natural hedge”, with bismuth, cobalt and magnetite alongside — five revenue streams out of one orebody rather than a single-metal bet.

  3. Downstream strategy

    Mining and beneficiation at Rover 1, with downstream processing proposed at Middle Arm in Darwin — funded from Stage One cash flows.

  4. Exploration upside

    The Rover 1 orebody is open at depth and to the east. The deposit sits within roughly 1,054 km² of the 100% Castile owned Rover Mineral Field.

  5. Systematic target generation

    Castile has over 100 exploration targets within the Rover Mineral Field that it is systematically running passive seismic surveys over to determine drill ready targets.

Where things stand

The path to the BFS.

Castile has completed the 2026 Rover 1 Scoping Study. It now underpins the Bankable Feasibility Study. Pilot Plant testing and final cost estimates are to be completed, with the BFS due later in 2026.

  1. Dec 2022

    Pre-Feasibility Study complete

    Rover 1 modelled as a 500 ktpa underground operation.

  2. Apr 2024

    NT Government development approval

    Awarded by the NT Government, with land allocated at Middle Arm in Darwin.

  3. Oct 2025

    41% Mineral Resource uplift

    Updated JORC Mineral Resource of 7.86 Mt.

  4. Feb 2026

    A$8.4M placement

    Raised to advance Rover 1 toward development.

  5. Aug 2026

    2026 Rover 1 Scoping Study

    Rover 1 valued at A$1.07B pre-tax NPV8 over an 11-year initial mine life. Where the project stands today.

  6. Next

    Bankable Feasibility Study

    Pilot Plant testing and final cost estimates to be completed with BFS due later in 2026.