CST: Annual Report to shareholders
Original announcement by asx on
- Company
- CASTILE RESOURCES LTD
- Ticker
- CST
- Exchange
- ASX
- Region
- Northern Territory
- Primary commodity
- Gold
- Secondary commodities
- Copper, Bismuth, Cobalt, Magnetite, Silver, Lead, Zinc
- Document categories
- Resource update, Other
- Extracted
- 2026-09-22 09:04:59 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Castile Resources Ltd's annual report for the year ended June 2026 details a transformational year, marked by a 41% increase in the Rover 1 Mineral Resource and the release of a highly positive Scoping Study valuing the project at A$1.07 billion pre-tax NPV8. The company also successfully raised A$8.4 million and advanced pilot plant metallurgical testing, positioning Rover 1 for future development. While significant progress has been made, the Scoping Study's reliance on Inferred Resources for a portion of the mine plan and the need for further funding for development are noted as key considerations.
Reasoning: The annual report highlights a substantial 41% increase in the Rover 1 Mineral Resource, underpinning a highly positive Scoping Study with a pre-tax NPV8 of A$1.07 billion. This significant resource growth and strong economic assessment, coupled with ongoing pilot plant testing and strategic infrastructure development, indicate strong progress towards project development. However, the reliance on Inferred Resources for a portion of the mine plan and the need for future funding introduce some risk.
Positive factors
- Significant increase in Rover 1 Mineral Resource tonnage and contained metal
- Strong economic viability confirmed by Scoping Study with high NPV8 and IRR
- Pilot plant testing commenced to validate metallurgical recoveries
- Strategic infrastructure development at Middle Arm Sustainable Development Precinct (MASDP) for downstream processing
- Successful capital raise strengthening balance sheet
Negative factors
- Approximately 30% of the mine plan in the Scoping Study is drawn from Inferred Mineral Resources, which carry lower geological confidence
- Scoping Study is preliminary and insufficient to support Ore Reserve estimation
- Future funding required for development, with no certainty of availability on non-dilutive terms
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 29
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The Rover 1 Mineral Resource increased by 41% to 7.86 Mt compared to the prior estimate of 5.58 Mt.
Evidence · text
“The updated JORC 2012 Mineral Resource Estimate, announced 20 October 2025, increased contained tonnage by 41% to 7.86 Mt”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: Contained bismuth increased by 51% and contained cobalt by 30% in the Rover 1 Mineral Resource update.
Evidence · text
“Contained bismuth totalled 8,900 t (+51%), cobalt 5,200 t (+30%) and magnetite 1.88 Mt (+45%) against the prior estimate (below).”
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: The Rover 1 Mineral Resource was updated at a 1.0 g/t AuEq cut-off, down from the prior 2.0 g/t AuEq cut-off.
Evidence · text
“at a revised 1.0 g/t AuEq cut-off (down from the 2.0 g/t AuEq cut-off used in the 2024 annual estimate below)”
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Rover 1 Mineral Resource Estimate is stated to be JORC 2012 compliant.
Evidence · text
“The updated JORC 2012 Mineral Resource Estimate, announced 20 October 2025”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The annual Mineral Resource statement is based on information compiled by Mr Mark Savage, a Competent Person under JORC 2012, and the Ore Reserve statement by Mr Michael Poepjes, also a Competent Person.
Evidence · text
“This annual Mineral Resource statement is based on, and fairly represents, information compiled by Mr Mark Savage BSc (Hons) MAusIMM, a full-time employee of Castile Resources Limited who qualifies as a Competent Person under the 2012 JORC Code. This annual Ore Reserve statement is based on information compiled by Mr Michael Poepjes, MAusIMM, also a full-time employee of the Company and a qualifying Competent Person.”
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: Approximately 30% of the mine plan modelled in the Scoping Study is drawn from Inferred Mineral Resources, which carry a lower level of geological confidence.
Evidence · text
“approximately 30% of the mine plan modelled in the Study is drawn from Inferred Mineral Resources, which carry a lower level of geological confidence than Indicated Mineral Resources”
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: The Rover Project Ore Reserve was first announced in December 2022 and was not re-estimated during the year, making it over 3 years old by the report date.
Evidence · text
“The Rover Project Ore Reserve, first announced as part of the Rover 1 Preliminary Feasibility Study Outcomes on 5 December 2022, was not re-estimated during the year.”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The Rover 1 Scoping Study is the first formal economic assessment of the updated resource, establishing a baseline for future development.
Evidence · text
“the release of the 2026 Rover 1 Scoping Study, valuing Rover 1 at A$1.07 billion pre-tax NPV8”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The Rover 1 Mineral Resource was materially upgraded during the year, representing a revised estimate for an existing resource.
Evidence · text
“The Rover 1 Mineral Resource was materially upgraded during the year.”
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: The Rover Project Ore Reserve was announced as part of the Rover 1 Preliminary Feasibility Study Outcomes.
Evidence · text
“The Rover Project Ore Reserve, first announced as part of the Rover 1 Preliminary Feasibility Study Outcomes on 5 December 2022”
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: The Bankable Feasibility Study (BFS) is progressing and is due for completion later in calendar 2026, which will incorporate final capital and operating cost estimates and completed Pilot Plant results.
Evidence · text
“The BFS itself, incorporating final capital and operating cost estimates and completed Pilot Plant results, remains on track for completion later in calendar 2026.”
Extracted facts
Stored fact records: 29. Some facts used in scoring do not have a stored record.
Resource Estimates (29)
indicatedRover 1 · goldTonnes: 5650000Grade: 1.38Grade Unit: g/tContained Metal: 251100Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- gold
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:0599c9362e1520c8d9f5
Resource Data
- Category
- indicated
- Tonnes
- 5650000
- Grade
- 1.38
- Grade Unit
- g/t
- Contained Metal
- 251100
- Contained Unit
- oz
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 1.76
- Prior Contained Metal
- 315200
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Indicated gold resource for Rover 1 shows a substantial tonnage increase, contributing significantly to the project's economic viability as demonstrated by the Scoping Study. Although the grade is lower than the prior estimate, the overall contained metal and project economics are positive.
Positive factors
- Significant tonnage increase (41%) compared to prior estimate
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower average gold grade compared to prior estimate
Evidence · table
“1.38”
Context: 5.65
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1.38 against 1.76 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 251100 against 315200 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 251100 from 315200
indicatedRover 1 · copperTonnes: 5650000Grade: 1.3Grade Unit: %Contained Metal: 73200Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:0599c9362e1520c8d9f5
Resource Data
- Category
- indicated
- Tonnes
- 5650000
- Grade
- 1.3
- Grade Unit
- %
- Contained Metal
- 73200
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 1.49
- Prior Contained Metal
- 83200
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Indicated copper resource for Rover 1 shows a substantial tonnage increase, contributing significantly to the project's economic viability. While the grade and contained metal are lower than the prior estimate, the overall resource growth is positive.
Positive factors
- Significant tonnage increase (41%) compared to prior estimate
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower average copper grade and contained metal compared to prior estimate
Evidence · table
“1.30”
Context: 5.65
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1.3 against 1.49 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 73200 against 83200 previously
Dilutive Growthnegative
Tonnage increased but contained metal flat or down — likely from lower cut-off grade, not geological expansion.
Why it applies: tonnage rose while contained metal went 73200 from 83200
indicatedRover 1 · bismuthTonnes: 5650000Grade: 0.11Grade Unit: %Contained Metal: 8900Contained Unit: tView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- bismuth
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:0599c9362e1520c8d9f5
Resource Data
- Category
- indicated
- Tonnes
- 5650000
- Grade
- 0.11
- Grade Unit
- %
- Contained Metal
- 8900
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 0.11
- Prior Contained Metal
- 5900
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Indicated bismuth resource for Rover 1 shows a substantial increase in contained metal, significantly contributing to the project's economic viability and identified as a key new value stream in the Scoping Study.
Positive factors
- Significant tonnage increase (41%) compared to prior estimate
- Contained bismuth increased by 51%
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Evidence · table
“0.11”
Context: 5.65
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 8900 against 5900 previously
indicatedRover 1 · cobaltTonnes: 5650000Grade: 0.07Grade Unit: %Contained Metal: 5200Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- cobalt
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:0599c9362e1520c8d9f5
Resource Data
- Category
- indicated
- Tonnes
- 5650000
- Grade
- 0.07
- Grade Unit
- %
- Contained Metal
- 5200
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 0.07
- Prior Contained Metal
- 4000
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Indicated cobalt resource for Rover 1 shows a substantial increase in contained metal, contributing positively to the project's diversified product portfolio and economic viability.
Positive factors
- Significant tonnage increase (41%) compared to prior estimate
- Contained cobalt increased by 30%
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Evidence · table
“0.07”
Context: 5.65
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 5200 against 4000 previously
indicatedRover 1 · magnetiteTonnes: 5650000Grade: 24.2Grade Unit: %Contained Metal: 1880000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- magnetite
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:0599c9362e1520c8d9f5
Resource Data
- Category
- indicated
- Tonnes
- 5650000
- Grade
- 24.2
- Grade Unit
- %
- Contained Metal
- 1880000
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 23.2
- Prior Contained Metal
- 1295000
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Indicated magnetite resource for Rover 1 shows a substantial increase in contained metal, adding to the project's diversified product portfolio and economic viability.
Positive factors
- Significant tonnage increase (41%) compared to prior estimate
- Contained magnetite increased by 45%
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Evidence · table
“24.2”
Context: 5.65
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 1880000 against 1295000 previously
inferredRover 1 · goldTonnes: 2210000Grade: 1.27Grade Unit: g/tContained Metal: 90200Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- gold
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:1b262d57bbf20b1b4250
Resource Data
- Category
- inferred
- Tonnes
- 2210000
- Grade
- 1.27
- Grade Unit
- g/t
- Contained Metal
- 90200
- Contained Unit
- oz
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 1.76
- Prior Contained Metal
- 315200
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Inferred gold resource for Rover 1 contributes to the overall resource growth and project economics, but its lower confidence category and reduced grade compared to the prior estimate warrant caution.
Positive factors
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower geological confidence due to Inferred category
- Lower average gold grade compared to prior estimate
Evidence · table
“1.27”
Context: 2.21
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 2210000 against 5580000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1.27 against 1.76 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 90200 against 315200 previously
inferredRover 1 · copperTonnes: 2210000Grade: 1.1Grade Unit: %Contained Metal: 24300Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:1b262d57bbf20b1b4250
Resource Data
- Category
- inferred
- Tonnes
- 2210000
- Grade
- 1.1
- Grade Unit
- %
- Contained Metal
- 24300
- Contained Unit
- t
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
- Prior Tonnes
- 5580000
- Prior Grade
- 1.49
- Prior Contained Metal
- 83200
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Inferred copper resource for Rover 1 contributes to the overall resource, but its lower confidence category and reduced grade/contained metal compared to the prior estimate warrant caution.
Positive factors
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower geological confidence due to Inferred category
- Lower average copper grade and contained metal compared to prior estimate
Evidence · table
“1.10”
Context: 2.21
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Declinenegative
Resource tonnage decreased vs prior estimate — pit optimization removed marginal material or geological model revised down.
Why it applies: 2210000 against 5580000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1.1 against 1.49 previously
Contained Metal Declinenegative
Contained metal decreased vs prior despite tonnage growth — grade dilution exceeds volume gain.
Why it applies: 24300 against 83200 previously
inferredRover 1 · bismuthTonnes: 2210000Grade: 0.12Grade Unit: %View all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- bismuth
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:1b262d57bbf20b1b4250
Resource Data
- Category
- inferred
- Tonnes
- 2210000
- Grade
- 0.12
- Grade Unit
- %
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Inferred bismuth resource for Rover 1 contributes to the overall resource and project economics, but its lower confidence category warrants caution.
Positive factors
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower geological confidence due to Inferred category
Evidence · table
“0.12”
Context: 2.21
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredRover 1 · cobaltTonnes: 2210000Grade: 0.06Grade Unit: %View all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- cobalt
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:1b262d57bbf20b1b4250
Resource Data
- Category
- inferred
- Tonnes
- 2210000
- Grade
- 0.06
- Grade Unit
- %
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Inferred cobalt resource for Rover 1 contributes to the overall resource and project economics, but its lower confidence category warrants caution.
Positive factors
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower geological confidence due to Inferred category
Evidence · table
“0.06”
Context: 2.21
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredRover 1 · magnetiteTonnes: 2210000Grade: 23.5Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 1
- Commodity
- magnetite
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:1b262d57bbf20b1b4250
Resource Data
- Category
- inferred
- Tonnes
- 2210000
- Grade
- 23.5
- Grade Unit
- %
- Cutoff Grade
- 1
- Cutoff Unit
- g/t AuEq
Prior Estimate
- Resource Date
- 2025-10-20
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: The Inferred magnetite resource for Rover 1 contributes to the overall resource and project economics, but its lower confidence category warrants caution.
Positive factors
- Resource update directly underpins a strong Scoping Study NPV8
- QP/CP signed off on the estimate
Negative factors
- Lower geological confidence due to Inferred category
Evidence · table
“23.5”
Context: 2.21
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedRover 4 · goldTonnes: 50600Grade: 0.38Grade Unit: g/tContained Metal: 600Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 4
- Commodity
- gold
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:bab864eaaddd9a60ac87
Resource Data
- Category
- indicated
- Tonnes
- 50600
- Grade
- 0.38
- Grade Unit
- g/t
- Contained Metal
- 600
- Contained Unit
- oz
- Cutoff Grade
- 2
- Cutoff Unit
- g/t AuEq
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small, low-grade Indicated gold resource that has been previously reported and not updated, indicating low novelty and materiality.
Negative factors
- Low grade for gold
- Small tonnage
- Stale data re-released with no new information
Evidence · table
“0.38”
Context: 50.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedRover 4 · copperTonnes: 50600Grade: 1.9Grade Unit: %Contained Metal: 1000Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 4
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:bab864eaaddd9a60ac87
Resource Data
- Category
- indicated
- Tonnes
- 50600
- Grade
- 1.9
- Grade Unit
- %
- Contained Metal
- 1000
- Contained Unit
- t
- Cutoff Grade
- 2
- Cutoff Unit
- g/t AuEq
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small Indicated copper resource with a moderate grade that has been previously reported and not updated, indicating low novelty and materiality.
Positive factors
- Moderate copper grade
Negative factors
- Small tonnage
- Stale data re-released with no new information
Evidence · table
“1.90”
Context: 50.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedRover 4 · cobaltTonnes: 50600Grade: 0.03Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 4
- Commodity
- cobalt
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:bab864eaaddd9a60ac87
Resource Data
- Category
- indicated
- Tonnes
- 50600
- Grade
- 0.03
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- g/t AuEq
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small, low-grade Indicated cobalt resource that has been previously reported and not updated, indicating low novelty and materiality.
Negative factors
- Low grade for cobalt
- Small tonnage
- Stale data re-released with no new information
Evidence · table
“0.03”
Context: 50.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredRover 4 · goldTonnes: 307600Grade: 0.6Grade Unit: g/tContained Metal: 5900Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 4
- Commodity
- gold
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:bd31998e21aa8a93f5f9
Resource Data
- Category
- inferred
- Tonnes
- 307600
- Grade
- 0.6
- Grade Unit
- g/t
- Contained Metal
- 5900
- Contained Unit
- oz
- Cutoff Grade
- 2
- Cutoff Unit
- g/t AuEq
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small, low-grade Inferred gold resource that has been previously reported and not updated, indicating low novelty and materiality.
Negative factors
- Low grade for gold
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“0.60”
Context: 307.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredRover 4 · copperTonnes: 307600Grade: 1.81Grade Unit: %Contained Metal: 5600Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 4
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:bd31998e21aa8a93f5f9
Resource Data
- Category
- inferred
- Tonnes
- 307600
- Grade
- 1.81
- Grade Unit
- %
- Contained Metal
- 5600
- Contained Unit
- t
- Cutoff Grade
- 2
- Cutoff Unit
- g/t AuEq
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small Inferred copper resource with a moderate grade that has been previously reported and not updated, indicating low novelty and materiality.
Positive factors
- Moderate copper grade
Negative factors
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“1.81”
Context: 307.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredRover 4 · cobaltTonnes: 307600Grade: 0.01Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover 4
- Commodity
- cobalt
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:bd31998e21aa8a93f5f9
Resource Data
- Category
- inferred
- Tonnes
- 307600
- Grade
- 0.01
- Grade Unit
- %
- Cutoff Grade
- 2
- Cutoff Unit
- g/t AuEq
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small, low-grade Inferred cobalt resource that has been previously reported and not updated, indicating low novelty and materiality.
Negative factors
- Low grade for cobalt
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“0.01”
Context: 307.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExplorer 108 · silverTonnes: 8440000Grade: 14.32Grade Unit: g/tContained Metal: 3886000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- silver
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:314074ed1cfdce0aea37
Resource Data
- Category
- indicated
- Tonnes
- 8440000
- Grade
- 14.32
- Grade Unit
- g/t
- Contained Metal
- 3886000
- Contained Unit
- oz
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Pb+Zn COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Indicated silver resource with a low grade that has been previously reported and not updated, indicating low novelty.
Positive factors
- Moderate tonnage for Indicated category
Negative factors
- Low grade for silver
- Stale data re-released with no new information
Evidence · table
“14.32”
Context: 8.44
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
indicatedExplorer 108 · leadTonnes: 8440000Grade: 2.05Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- lead
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:314074ed1cfdce0aea37
Resource Data
- Category
- indicated
- Tonnes
- 8440000
- Grade
- 2.05
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Pb+Zn COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Indicated lead resource with a low grade that has been previously reported and not updated, indicating low novelty.
Positive factors
- Moderate tonnage for Indicated category
Negative factors
- Low grade for lead
- Stale data re-released with no new information
Evidence · table
“2.05”
Context: 8.44
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
indicatedExplorer 108 · zincTonnes: 8440000Grade: 3.41Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- zinc
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:314074ed1cfdce0aea37
Resource Data
- Category
- indicated
- Tonnes
- 8440000
- Grade
- 3.41
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Pb+Zn COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Indicated zinc resource with a low grade that has been previously reported and not updated, indicating low novelty.
Positive factors
- Moderate tonnage for Indicated category
Negative factors
- Low grade for zinc
- Stale data re-released with no new information
Evidence · table
“3.41”
Context: 8.44
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExplorer 108 · silverTonnes: 3430000Grade: 3.32Grade Unit: g/tContained Metal: 365600Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- silver
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:28d2050a808c2b235ca8
Resource Data
- Category
- inferred
- Tonnes
- 3430000
- Grade
- 3.32
- Grade Unit
- g/t
- Contained Metal
- 365600
- Contained Unit
- oz
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Pb+Zn COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Inferred silver resource with a low grade that has been previously reported and not updated, indicating low novelty.
Negative factors
- Low grade for silver
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“3.32”
Context: 3.43
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredExplorer 108 · leadTonnes: 3430000Grade: 1.88Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- lead
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:28d2050a808c2b235ca8
Resource Data
- Category
- inferred
- Tonnes
- 3430000
- Grade
- 1.88
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Pb+Zn COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Inferred lead resource with a low grade that has been previously reported and not updated, indicating low novelty.
Negative factors
- Low grade for lead
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“1.88”
Context: 3.43
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExplorer 108 · zincTonnes: 3430000Grade: 2.81Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- zinc
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:28d2050a808c2b235ca8
Resource Data
- Category
- inferred
- Tonnes
- 3430000
- Grade
- 2.81
- Grade Unit
- %
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Pb+Zn COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Inferred zinc resource with a low grade that has been previously reported and not updated, indicating low novelty.
Negative factors
- Low grade for zinc
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“2.81”
Context: 3.43
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
inferredExplorer 108 · copperTonnes: 5690000Grade: 0.36Grade Unit: %Contained Metal: 20300Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 108
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:6ee6bf3811949cb7a5ab
Resource Data
- Category
- inferred
- Tonnes
- 5690000
- Grade
- 0.36
- Grade Unit
- %
- Contained Metal
- 20300
- Contained Unit
- t
- Cutoff Grade
- 0.1
- Cutoff Unit
- % Cu
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a moderate tonnage Inferred copper resource with a low grade that has been previously reported and not updated, indicating low novelty.
Negative factors
- Low grade for copper
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · text
“an additional 5.69 Mt at 0.36% Cu, 20,300 t contained copper, is also reported at a 0.1% Cu cut-off”
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredExplorer 142 · goldTonnes: 175600Grade: 0.21Grade Unit: g/tContained Metal: 1200Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 142
- Commodity
- gold
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:e3ddc4a2ea85f948bdbc
Resource Data
- Category
- inferred
- Tonnes
- 175600
- Grade
- 0.21
- Grade Unit
- g/t
- Contained Metal
- 1200
- Contained Unit
- oz
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Cu COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small, very low-grade Inferred gold resource that has been previously reported and not updated, indicating low novelty and materiality.
Negative factors
- Very low grade for gold
- Small tonnage
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“0.21”
Context: 175.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
inferredExplorer 142 · copperTonnes: 175600Grade: 5.21Grade Unit: %Contained Metal: 9150Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Explorer 142
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Mark Savage
- Resource group id
- resource:e3ddc4a2ea85f948bdbc
Resource Data
- Category
- inferred
- Tonnes
- 175600
- Grade
- 5.21
- Grade Unit
- %
- Contained Metal
- 9150
- Contained Unit
- t
- Cutoff Grade
- 2.5
- Cutoff Unit
- % Cu COG
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This is a small Inferred copper resource with a high grade that has been previously reported and not updated, indicating low novelty.
Positive factors
- High grade for copper
Negative factors
- Small tonnage
- Lower geological confidence due to Inferred category
- Stale data re-released with no new information
Evidence · table
“5.21”
Context: 175.6
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 Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
probableRover Project · goldTonnes: 3110000Grade: 2.02Grade Unit: g/tContained Metal: 201800Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover Project
- Commodity
- gold
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Poepjes
- Resource group id
- resource:83849e9e10ce42833452
Resource Data
- Category
- probable
- Tonnes
- 3110000
- Grade
- 2.02
- Grade Unit
- g/t
- Contained Metal
- 201800
- Contained Unit
- oz
Prior Estimate
- Resource Date
- 2022-12-05
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This Probable Ore Reserve for gold, while representing a high confidence category, is historical and has not been updated, indicating low novelty.
Positive factors
- Moderate tonnage and grade for a Probable Reserve
Negative factors
- Stale data re-released with no new information
- Not re-estimated during the year
Evidence · table
“2.02”
Context: 3.11
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.8 years before this release
probableRover Project · copperTonnes: 3110000Grade: 1.52Grade Unit: %Contained Metal: 47400Contained Unit: tHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover Project
- Commodity
- copper
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Poepjes
- Resource group id
- resource:83849e9e10ce42833452
Resource Data
- Category
- probable
- Tonnes
- 3110000
- Grade
- 1.52
- Grade Unit
- %
- Contained Metal
- 47400
- Contained Unit
- t
Prior Estimate
- Resource Date
- 2022-12-05
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This Probable Ore Reserve for copper, while representing a high confidence category, is historical and has not been updated, indicating low novelty.
Positive factors
- Moderate tonnage and grade for a Probable Reserve
Negative factors
- Stale data re-released with no new information
- Not re-estimated during the year
Evidence · table
“1.52”
Context: 3.11
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.8 years before this release
probableRover Project · cobaltTonnes: 3110000Grade: 0.07Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover Project
- Commodity
- cobalt
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Poepjes
- Resource group id
- resource:83849e9e10ce42833452
Resource Data
- Category
- probable
- Tonnes
- 3110000
- Grade
- 0.07
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2022-12-05
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This Probable Ore Reserve for cobalt, while representing a high confidence category, is historical and has not been updated, indicating low novelty.
Positive factors
- Moderate tonnage for a Probable Reserve
Negative factors
- Stale data re-released with no new information
- Not re-estimated during the year
Evidence · table
“0.07”
Context: 3.11
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.8 years before this release
probableRover Project · magnetiteTonnes: 3110000Grade: 22.92Grade Unit: %Historical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Rover Project
- Commodity
- magnetite
- Region
- australia_nt
- Reported Region
- Northern Territory
- Ticker
- CST
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Michael Poepjes
- Resource group id
- resource:83849e9e10ce42833452
Resource Data
- Category
- probable
- Tonnes
- 3110000
- Grade
- 22.92
- Grade Unit
- %
Prior Estimate
- Resource Date
- 2022-12-05
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-09-22T00:00:00.000Z
Reasoning: This Probable Ore Reserve for magnetite, while representing a high confidence category, is historical and has not been updated, indicating low novelty.
Positive factors
- Moderate tonnage for a Probable Reserve
Negative factors
- Stale data re-released with no new information
- Not re-estimated during the year
Evidence · table
“22.92”
Context: 3.11
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Stale Estimatenegative
Effective date is >2 years old — data currency concern, may not reflect current geological understanding.
Why it applies: effective date is 3.8 years before this release
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.