Been buying these myself the last couple of days.............I...

Been buying these myself the last couple of days.............I think news on drilling restart and perhaps PFS progress are 'just around the corner' and could be decent catalysts for buyers to move back in and produce a solid shorter term move to the upside.

The resource definition drilling is almost sure to provide some great assay results to entice punters imo. Expansion of the resource would also provide a good value uplift.

High Grade Gold Core: 1.32Mt @ 7g/t +300,000oz Au + High Grade Copper Core: 3.56Mt @ 1.76% for +63,000t Cu

Rover 1 Total Mineral Resources: 6.9Mt 1.74g/t Au, 1.20% Cu, 0.06% Co, 0.14% Bi

• Castile Resources has planned drilling programs at the Rover Project for the dry season from April to November 2020*
• The program includes high priority exploration and resource definition drill holes

Link to orig WGR scoping study here:

https://www.asx.com.au/asxpdf/20101011/pdf/31t11ylvjv5mdp.pdf

The 'numbers' used in the original in SS are significantly different to what we see currently of course. Met prices and exchange rates and so on (consider also what CST are now ultimately aiming to develop and mine so to speak as well).

We really need the PFS to confirm 'current level' economics here, but you can get 'an idea' from the SS. Price per oz below are 'C1 type costs' it would appear so not exactly AISC type levels (correct me if wrong of course) but I would hazard that economics look likely to be decent under current exchange rates and gold prices (I would also assume copper as a credit here tbh at current prices).

Excerpts from SS:

• Metal prices used in the study are US$1,100/oz for Au, US$7,000/t for Cu, US$15,000/t for Bi and US$45,000t for Co and an exchange rate of AUS$1:US$0.90. Notably the current prices of gold (US$1345/oz) and copper (US$8,100/t) are significantly higher than the values used in this study. Estimated royalties were included in all models

• The outcome of this initial assessment is very positive, confirming a significant development proposal at Rover 1 is viable and likely. We are still drilling and the ore system remains open at depth which continues to improve the project.

• The project produces 35,000 ounces of gold and 4,000 tonnes of copper per annum and for benchmarking purposes this would be equivalent to a cash operating cost of $185/oz of gold after copper credits. Alternatively, if copper is considered as a gold equivalent annualised output, this equates to approximately 60,000 ounces per annum at a cash operating cost of $580/oz.

I'm sure there are people here and also watching this company with far more experience than myself who could figure a 'likely AISC' that the PFS might produce. But anything around $1000 Aus would be very nice imo, *(although again I have no idea what it might be tbh).

They definitely have the cash to seriously progress this at the very least. T20 hold a very large portion of the reg and gold is a nice place to be even if it is 'just exploration' with longer term development potential.

Good fortune to all.