Mine to Metal.

Rover 1 is a high-grade Iron Oxide Copper Gold (IOCG) deposit beneath the Rover Mineral Field, 57 km from Tennant Creek. The updated October 2025 JORC Mineral Resource is 7.86 Mt at 1.35 g/t Au, 1.24% Cu, 0.07% Co and 0.11% Bi, with magnetite alongside. Contained metal: 341.3 koz gold, 97.4 kt copper, 8,900 t bismuth, 5,200 t cobalt, 1.88 Mt magnetite. The 41% tonnage uplift will be carried into the Bankable Feasibility Study, due June 2026.

The 2022 Pre-Feasibility Study modelled five revenue streams from a single 500,000 tonne-per-annum underground operation. Rather than shipping concentrate offshore, Castile beneficiates ore at Rover 1 in Tennant Creek, then refines downstream at the Middle Arm Sustainable Development Precinct in Darwin, producing gold doré, 99% copper, 99% cobalt, 96.5% magnetite and bismuth concentrate on Australian soil.

Bismuth is the asset most investors haven't priced in. China produces 83% of global 4N (99.99%) bismuth supply, the bismuth price is up ~737% over the past five years, and demand is being pulled by defence and next-generation microchip applications. Castile's 8,900 tonnes of bismuth in the JORC Resource, refined in Darwin, is one of the few near-term Western-world supply options at scale.

Sources: Rover 1 PFS, 5 Dec 2022 · MRE update, ASX:CST 20 Oct 2025 · May 2026 investor presentation.