CPN: Investor Webinar Presentation - Updated Kelpie MRE
Original announcement by asx on
- Company
- Caspin Resources
- Ticker
- CPN
- Exchange
- ASX
- Region
- New South Wales
- Primary commodity
- Tin
- Secondary commodities
- None reported
- Document categories
- Resource update, Other
- Extracted
- 2026-10-13 00:09:28 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Caspin Resources has updated the Kelpie Deposit Mineral Resource Estimate to 6.5Mt at 0.43% Sn, containing 28kt of tin. This represents a 45% increase in contained tin since the maiden estimate, with the Indicated category now comprising 25% of the total resource.
Reasoning: The update shows substantial growth in contained metal and establishes a significant indicated component, de-risking the project scale.
Positive factors
- Significant tonnage growth (45% increase in contained tin since maiden MRE)
- High grade (0.43% Sn) for an open pit scenario
- Expansion of resource scale to 6.5Mt
- Indicated resource established (25% of total)
Facts used in scoring: 2
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Contained tin increased by 45% since maiden MRE
Evidence · text
“A 45% increase in contained tonnes since maiden MRE”
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: The update establishes an Indicated resource representing 25% of the total
Evidence · text
“Indicated MRE represents 25% of the total MRE”
Extracted facts
Stored fact records: 2. Some facts used in scoring do not have a stored record.
Resource Estimates (2)
indicatedKelpie Deposit · tinTonnes: 1625000Grade: 0.43Grade Unit: %Contained Metal: 7Contained Unit: ktView all detailsHide details
Identity
- Project
- Kelpie Deposit
- Commodity
- tin
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CPN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- Resource group id
- resource:ae78e067d348e2ad8f63
- Deposit or zone
- Kelpie Deposit
- Mining method
- combined
- Material type
- fresh
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 1625000
- Grade
- 0.43
- Grade Unit
- %
- Contained Metal
- 7
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2026-10-12
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-13T00:00:00.000Z
Reasoning: Indicated portion of the updated MRE.
Positive factors
- Significant scale for indicated resource
Evidence · text
“6.5Mt @ 0.43% Sn for 28Kt of contained tin”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredKelpie Deposit · tinTonnes: 4875000Grade: 0.43Grade Unit: %Contained Metal: 21Contained Unit: ktView all detailsHide details
Identity
- Project
- Kelpie Deposit
- Commodity
- tin
- Region
- australia_nsw
- Reported Region
- New South Wales
- Ticker
- CPN
Resource scope
- Estimate type
- resource
- Reporting standards
- other
- Resource group id
- resource:1a3edbb5875d040d5188
- Deposit or zone
- Kelpie Deposit
- Mining method
- combined
- Material type
- fresh
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 4875000
- Grade
- 0.43
- Grade Unit
- %
- Contained Metal
- 21
- Contained Unit
- kt
Prior Estimate
- Resource Date
- 2026-10-12
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-13T00:00:00.000Z
Reasoning: Inferred portion of the updated MRE.
Positive factors
- Contributes to significant total resource scale
Evidence · text
“6.5Mt @ 0.43% Sn for 28Kt of contained tin”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
PEA-Supportingneutral
Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.
Why it applies: the release names the study this estimate supports
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.