Quick refresher on why CST is a solid investment from my...

Quick refresher on why CST is a solid investment from my perspective.............(just my rambling take FWIW).

Rover 1: ".............has been extensively drilled and is essentially development ready..............."

Top 20 holders of ORDINARY FULLY PAID SHARES (Total): 130,315,993..............65.27%

Fully diluted share capital: 201,710,121



Some things to consider:

• Scoping Study showed a robust development option for the upper 300m of the orebody, which now forms the basis for the Pre-Feasibility Studyworks that the Company has commenced.

• The prices used in the Scoping Study for the key copper and gold mineralisation wereA$8,580/t copper and A$1,220/oz of goldcompared to spot prices today of approximately A$7,800/t copper and A$2,500/oz gold..................

• That's an approx A$1200 per oz increase to be plugged into the PFS, very significant imo (this number will vary of course), but $1100 US was their original POG plug in, and well, POG is sitting at $1900ish US right now.............or A$2650 at current exchange.

• 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.

• Rover 1 has an approved decline development plan to upgrade the current resource base of ≈4,000 ounces AuEq per vertical meter. The Mineral Resource of 6.8 Mt @ 6 g/t AuEq is yet to be updated for recent drilling and improved Australian Dollar commodity prices.

• Economic models are now being constructed to evaluate and compare Owner Mining with Contract Mining.

• Being familiar with the project, EcOz’s existing knowledge will be leveraged tofast-track Hydrological and Waste Rock Characterisation studies which form part of mine permitting requirements.

• Castile has remained active from a technical perspective, with a focus on the examination of datasetsfrom the newly acquired ex. Adelaide Resources tenure................(see ADN ASX releases from circa 2009 for more details on this).

• The Company remained heavily engaged with the Northern Territory Government during the year as they plan to accelerate economic activity to recover from the COVID-19 pandemic. The resources sector is viewed as an important part of the recovery, and a report is expected in the coming months as to how the NT Government will directly assist mining and exploration companies going forward.

Current Drill program is testing the following:

• Testing of the gold exploration targets at Ganymede and the Western Deeps. The program will also include selected resource definition holes to assist with the Pre-Feasibility Study on the Rover 1 Gold deposit.

From a TA perspective:
Stock is now in a well oversold condition that is likely to see value buyers emerging and supporting our price around this region imo (barring world events further messing things up of course). A move into sideways action or even a bounce back is on the cards I would hazard, (with first drill results only approx two weeks away).

I believe we've hit support around here very similar to what we saw during late August through to mid September while undergoing sideways movement...............'volatile moments' might see this move lower of course as world events are spooking mkts and individuals alike right now and there's not much to be done about such things.





There is plenty going on here, but the ASX sure caught some flack from the Trump 'news' Friday arvo and reacted accordingly. Not much we can do about such things. CST is still a medium term hold and accumulate type play for me. Waiting on PFS numbers seems a prudent timeline to my way of thinking, especially with the increased gold price now floating about, (but everyone's outlook will be different of course).

Will every hole they drill deliver the 'headline grabbing' excellent grades and widths they have previously presented on various occasions..........???...........nope not going to happen. That's the nature of the game. People expecting such eventualities are going to be left wanting I would imagine.

However, there is a high probability (by my estimation) that they will deliver some exceptional high grade hits before this program is done and dusted. From here it's also about increasing confidence in the current resource and likely proving up more tonnage at Rover 1 to increase possible LOM. Concurrently they will be maturing external prospects that have some great looking potential. They are also well funded and have a wealth of experience with this ground.

So all in all I'm a happy camper here. But as always evaluate your own risk/reward scenarios and invest accordingly.

Have a good weekend people.