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Caspin Resources Limited (ASX:CPN)

ALERT: Price-sensitive ASX Announcement for CPN
Current share price for CPN : $0.113 -0.043 (-27.42%)+
Announcement
Release
13 Mar 2026 10:12AM
Price at Release
$0.155
Full Release
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Summary
Caspin Resources Limited (ASX: CPN) announced a capital raising to accelerate exploration at the Bygoo Tin Project, aiming to raise $6.0 million through an equity placement. This funding will be used for resource expansion at the Kelpie Deposit and regional reconnaissance work. The placement was oversubscribed, with a significant investment from Farjoy Pty Ltd, and will enhance Caspin’s cash position to approximately $10 million. This positions the company to pursue its exploration goals effectively. The funds will allow continued drilling at Kelpie and broader exploration across the Bygoo Project, capitalizing on high tin prices and strong long-term market fundamentals. The placement reflects the confidence of existing shareholders and new institutional investors in Caspin's potential as a high-grade tin project developer.
Key Points
  • Caspin raised $6.0 million through an equity placement.
  • Capital raising oversubscribed and supported by key investors including Farjoy Pty Ltd.
  • Funds are for accelerating exploration at Bygoo Tin Project and Kelpie Deposit.
  • Post-raising cash position estimated at $10 million.
  • Tin prices at US$50,000 per ton with strong long-term fundamentals.
  • Placement involved issuing 44,444,444 new shares at $0.135 each.
  • Placement managed by Bell Potter Securities and Morgans Corporate Limited.
  • Caspin's flagship project is the Bygoo Project in New South Wales.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.