Caspin Resources Ltd. (AU:CPN)
ASX:CPN
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Caspin Resources Ltd.
(Sydney:CPN)
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Rating:43Neutral
Price Target:
AU$0.10
▲(26.25% Upside)
Action:ReiteratedDate:03/20/26
The score is driven primarily by weak financial performance (pre-revenue, ongoing losses and negative free cash flow) despite improved cash burn and low leverage. Technical indicators also reflect weak momentum with the price below key moving averages. Valuation is constrained by a negative P/E and lack of dividend support.
Positive Factors
Low Leverage / Balance Sheet Flexibility
Very low debt-to-equity reduces bankruptcy and interest-rate risk and preserves financing optionality. For an exploration company that needs episodic capital, low leverage provides durable flexibility to raise funds or allocate cash to drilling without heavy fixed obligations.
Negative Factors
Pre-revenue with Persistent Losses
No operating revenue and recurring net losses mean the business is economically unproven. Over a multi-month horizon this restricts internal funding capacity and requires continual capital support, limiting ability to scale activities without dilutive financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage / Balance Sheet Flexibility
Very low debt-to-equity reduces bankruptcy and interest-rate risk and preserves financing optionality. For an exploration company that needs episodic capital, low leverage provides durable flexibility to raise funds or allocate cash to drilling without heavy fixed obligations.
Read all positive factors
Caspin Resources Ltd. (CPN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$33.91M
Dividend YieldN/A
Average Volume (3M)1.48M
Price to Earnings (P/E)―
Beta (1Y)0.30
Revenue GrowthN/A
EPS Growth-15.47%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.01
Shares Outstanding294,849,820
10 Day Avg. Volume2,059,657
30 Day Avg. Volume1,479,764
Financial Highlights & Ratios
PEG Ratio0.10
Price to Book (P/B)2.31
Price to Sales (P/S)0.00
P/FCF Ratio-2.88
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Caspin Resources Ltd. Business Overview & Revenue Model
Company Description
Caspin Resources Limited explores for and develops mineral properties in Australia. The company focuses on gold, nickel, copper, and cobalt minerals. Its flagship properties include the 80% owned Yarawindah Brook Project covering approximately 400...
How the Company Makes Money
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Caspin Resources Ltd. Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
48
Neutral
Cash Flow
24
Negative
| Breakdown | TTM | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | -44.02K | -86.22K | -87.13K | -86.78K | -55.31K | 0.00 |
| EBITDA | -2.17M | -2.51M | -2.43M | -11.10M | -6.37M | 0.00 |
| Net Income | -4.77M | -2.59M | -2.52M | -11.19M | -6.43M | -6.17M |
Balance Sheet | ||||||
| Total Assets | 6.73M | 3.53M | 1.64M | 4.62M | 9.40M | 9.89M |
| Cash, Cash Equivalents and Short-Term Investments | 4.79M | 1.89M | 1.42M | 4.13M | 8.94M | 5.75M |
| Total Debt | 119.89K | 36.84K | 46.86K | 125.69K | 201.94K | 0.00 |
| Total Liabilities | 1.01M | 756.89K | 190.21K | 1.26M | 605.35K | 173.47K |
| Stockholders Equity | 5.72M | 2.77M | 1.45M | 3.36M | 8.79M | 9.59M |
Cash Flow | ||||||
| Free Cash Flow | -3.86M | -2.22M | -2.91M | -10.26M | -5.90M | -3.43M |
| Operating Cash Flow | -3.86M | -2.22M | -2.91M | -10.25M | -5.86M | -2.12M |
| Investing Cash Flow | -108.69K | -374.16K | 0.00 | -4.68K | -72.86K | -1.41M |
| Financing Cash Flow | 4.79M | 3.06M | 200.49K | 5.44M | 9.13M | 7.97M |
Caspin Resources Ltd. Technical Analysis
Negative
0.08
Price Trends
0.14
Negative
0.12
Negative
0.10
Positive
Market Momentum
>-0.01
Positive
38.82
Neutral
-16.67
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:CPN, the sentiment is Negative. The current price of 0.08 is below the 20-day moving average (MA) of 0.11, below the 50-day MA of 0.14, and below the 200-day MA of 0.10, indicating a neutral trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 38.82 is Neutral, neither overbought nor oversold. The STOCH value of -16.67 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:CPN.
Caspin Resources Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
49 Neutral | AU$20.97M | -4.44 | -9.05% | ― | ― | 27.27% | |
48 Neutral | AU$25.55M | ― | -6.64% | ― | ― | 55.00% | |
48 Neutral | AU$36.36M | -4.79 | -14.34% | ― | ― | 15.79% | |
46 Neutral | AU$11.94M | -7.75 | -9.58% | ― | ― | 25.00% | |
43 Neutral | AU$33.91M | -2.08 | -112.37% | ― | ― | -15.47% |
* Basic Materials Sector Average
AU:CPN
Caspin Resources Ltd.
0.12
0.06
101.75%
AU:CRR
Critical Resources Ltd
0.01
0.00
0.00%
AU:MRR
MinRex Resources Limited
0.02
<0.01
54.55%
AU:MRQ
MRG Metals Limited
―
―
―
AU:PVT
Rafaella Resources Ltd.
0.02
<0.01
33.33%
Caspin Resources Ltd. Corporate Events
Caspin Drilling Confirms High-Grade Tin Growth Potential at Kelpie
Apr 21, 2026
Caspin Resources has reported strong initial reverse circulation drilling results from its 2026 campaign at the Kelpie deposit, part of the Bygoo Tin Project in New South Wales. All 11 reported holes intersected tin mineralisation, with standout r...
Caspin Drilling Extends High-Grade Tin Resource at Kelpie
Apr 20, 2026
Caspin Resources has reported strong initial reverse circulation drilling results from its 2026 campaign at the Kelpie deposit within the Bygoo Tin Project in New South Wales. The Kelpie resource currently stands at 3.94 million tonnes at 0.50% ti...
Caspin Resources Calls May 2026 General Meeting and Urges Shareholder Voting
Apr 10, 2026
Caspin Resources Limited has called a General Meeting of shareholders to be held in person at its West Perth offices on 13 May 2026 at 10:00 a.m. WST. The company has made the Notice of Meeting and Explanatory Memorandum available online through i...
Caspin Drops Weethalle Gold Option to Focus on Bygoo Tin Strategy
Mar 31, 2026
Caspin Resources has decided not to exercise its option to acquire an 80% stake in the Weethalle Gold Project after Phase Two drilling at the Euratha Prospect failed to confirm the potential of a major gold system. While drilling intersected quart...
Caspin Accelerates Bygoo Tin Exploration with New Targets at Kelpie and Ardlethan East
Mar 29, 2026
Caspin Resources is accelerating exploration at its Bygoo Tin Project in New South Wales following a recent $6 million capital raising, with reverse circulation drilling at the Kelpie Deposit already completing 23 holes for about 4,000 metres, wit...
Caspin Resources Secures A$6m to Advance Australian Exploration Portfolio
Mar 18, 2026
Caspin Resources has completed a A$6 million capital raising via a placement of 44,444,444 new shares at A$0.135 each to new and existing institutional and sophisticated investors, alongside the issue of 200,000 shares from option exercises. The c...
Caspin Resources Seeks ASX Quotation for Additional 200,000 Shares
Mar 18, 2026
Caspin Resources Ltd. has applied to the ASX for quotation of 200,000 additional ordinary fully paid shares under its existing CPN ticker. The new securities, issued on 19 March 2026 following the exercise or conversion of existing instruments, wi...
Caspin Seeks ASX Quotation for 44.4 Million New Shares
Mar 18, 2026
Caspin Resources Ltd., an Australian mineral exploration company listed on the ASX under ticker CPN, has ordinary fully paid shares on issue and is regulated under the ASX Listing Rules. The company offers investors access to the resources sector ...
Caspin Resources plans major share placement for March 2026
Mar 12, 2026
Caspin Resources Ltd. has notified the ASX of a proposed placement of up to 44,444,444 new ordinary fully paid shares. The company has applied for these securities to be quoted on the ASX, with the proposed issue date set for 19 March 2026, signal...
Caspin Raises $6m to Fast-Track Exploration at Bygoo Tin Project
Mar 12, 2026
Caspin Resources has secured firm commitments for a $6 million equity placement, issuing 44,444,444 new shares at A$0.135 each, a discount to recent trading levels, leaving the company with a pro-forma cash balance of about A$10 million. The overs...
Caspin Resources Releases Interim Financial Report for Half Year 2025
Mar 4, 2026
Caspin Resources Ltd. has released its interim financial report for the half year ended 31 December 2025, detailing the company’s financial performance, position, and cash flows over the period. The report includes directors’ commentar...
Caspin Resources Raises $414,000 From Option Exercise to Support Exploration Portfolio
Feb 24, 2026
Caspin Resources has raised $414,000 through the issue of 4,140,000 fully paid ordinary shares, following the exercise of an equal number of unlisted options priced at $0.10 and expiring at the end of 2026. The company has confirmed that the new s...
Caspin Resources Seeks ASX Quotation for 4.14 Million New Shares
Feb 24, 2026
Caspin Resources has applied for quotation on the ASX of 4,140,000 new ordinary fully paid shares under its CPN ticker. The securities, issued on 24 February 2026 following the exercise or conversion of existing instruments, will increase the comp...
Caspin Resources Expands Share Capital Through Option Exercises and Performance Rights
Feb 6, 2026
Caspin Resources has issued 925,000 fully paid ordinary shares following the exercise of unlisted options at $0.10, raising $92,500, and a further 450,000 shares through the conversion of vested performance rights under its employee incentive plan...
Caspin Resources Seeks ASX Quotation for 1.38 Million New Shares
Feb 6, 2026
Caspin Resources Ltd has applied to the Australian Securities Exchange for quotation of 1,375,000 new ordinary fully paid shares, to be traded under its existing ticker CPN. The issuance, dated 6 February 2026, results from the exercise of options...
Caspin Resources Reaffirms Exploration Results and JORC Compliance in Company Update
Feb 4, 2026
Caspin Resources has issued a company update reaffirming that its previously reported exploration results and associated technical information remain current and materially unchanged, as confirmed by qualified competent persons in geology, resourc...
Caspin Launches New Drilling Campaigns at Bygoo Tin and Weethalle Gold Projects
Feb 3, 2026
Caspin Resources has commenced multiple exploration programs across its Bygoo Tin and Weethalle Gold projects in New South Wales, including a Phase 2 reverse circulation drilling campaign at Weethalle to test newly defined geochemical and geophysi...
Caspin Resources Reports Strong Tin Metallurgy at Bygoo and Advances Drilling at Weethalle Gold Project
Jan 28, 2026
Caspin Resources reported strong initial metallurgical results from its Kelpie tin deposit at the Bygoo Tin Project, with test work delivering a 53.6% tin concentrate at 83.8% recovery using a combination of gravity separation and flotation, and a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.