Castile Raises A$8.4m via 76.4m Shares at A$0.11 to Advance Rover 1

Capital Raise to Propel Rover 1 Project

Castile Resources Limited (ASX, CST) has successfully secured approximately A$8.4 million through a placement of 76.4 million fully paid ordinary shares priced at A$0.11 each. This capital injection is designed to fast-track the development of the Rover 1 project, a key asset in Castile’s portfolio focused on gold and base metals exploration.

The placement attracted firm commitments from institutional, professional, and sophisticated investors, reflecting confidence in Castile’s strategy and the potential of the Rover Mineral Field. Notably, the company’s board and management have also committed to participate in an additional placement of A$0.12 million, pending shareholder approval at an upcoming Extraordinary General Meeting.

Clear Strategic Priorities for the Funds

The proceeds will primarily fund the completion of a Bankable Feasibility Study (BFS) for Rover 1, targeted for June 2026. This BFS will incorporate recent positive developments, including a 41% increase in the Mineral Resource Estimate and rising commodity prices for gold, copper, bismuth, and cobalt over the past year. The study will also cover pilot plant operations and geotechnical analysis, critical steps toward project development.

In addition, Castile plans to commence exploration drilling in April 2026, guided by new targets identified through Ambient Noise Tomography (ANT) surveys. This innovative technology has generated promising leads near planned infrastructure, potentially unlocking further resource upside.

Market Reception and Share Placement Details

The placement shares were issued at a 15.6% discount to the last closing price and a 14.7% discount to the five-day volume weighted average price, a common practice to incentivise investor participation. The new shares will rank equally with existing shares, and the issue utilises Castile’s available capacity under ASX Listing Rules.

Joint Lead Managers Canaccord Genuity and Blue Ocean Equities facilitated the placement, underscoring the transaction’s institutional backing. Executive Chairman Mark Hepburn expressed optimism about the company’s trajectory, highlighting the strong investor response and the exciting news flow anticipated over the coming months.

With the BFS completion and exploration drilling on the horizon, Castile is positioning itself to deliver significant value creation milestones for shareholders in 2026.