Caspin Resources Ltd. (AU:CPN)
ASX:CPN
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Caspin Resources Ltd.
(Sydney:CPN)
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Rating:44Neutral
Price Target:
AU$0.08
▲(2.50% Upside)
Action:Reiterated
Date:06/04/26
The score is primarily weighed down by financial performance: the company remains pre-revenue with ongoing losses and negative free cash flow despite improvements since FY2023. Technicals add further pressure with the stock trading below major moving averages and a negative MACD, while valuation is constrained by a negative P/E and no stated dividend yield.
Positive Factors
Low leverage / balance sheet flexibility
Very low debt-to-equity provides durable financial flexibility for an exploration company: it lowers bankruptcy and interest-rate risk, preserves ability to fund exploration through equity or project finance, and gives management optionality to time capital raises without immediate solvency pressure.
Negative Factors
Pre-revenue business model
Being pre-revenue is a durable constraint: exploration outcomes are binary and long-dated, so the firm remains several development stages from predictable cash generation. This structural profile mandates ongoing capital raises and leaves valuation and sustainability dependent on successful discoveries.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / balance sheet flexibility
Very low debt-to-equity provides durable financial flexibility for an exploration company: it lowers bankruptcy and interest-rate risk, preserves ability to fund exploration through equity or project finance, and gives management optionality to time capital raises without immediate solvency pressure.
Read all positive factors
Caspin Resources Ltd. (CPN) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$26.54M
Dividend YieldN/A
Average Volume (3M)1.48M
Price to Earnings (P/E)―
Beta (1Y)0.26
Revenue GrowthN/A
EPS Growth-15.47%
CountryAU
EmployeesN/A
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)-0.03
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 is an Australian company engaged in the exploration and development of mineral deposits. Its primary focus is on uncovering and advancing resources such as gold, nickel, copper, and cobalt. The firm's portfolio includes tw...
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 | -2.14M |
| 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
0.11
Negative
0.12
Negative
0.11
Negative
Market Momentum
>-0.01
Negative
43.65
Neutral
65.15
Neutral
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 0.10, below the 50-day MA of 0.11, and below the 200-day MA of 0.11, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 43.65 is Neutral, neither overbought nor oversold. The STOCH value of 65.15 is Neutral, 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% | |
48 Neutral | AU$31.94M | -0.01 | -6.64% | ― | ― | 55.00% | |
47 Neutral | AU$17.07M | -8.04 | -9.05% | ― | ― | 27.27% | |
46 Neutral | AU$34.22M | -9.09 | -14.34% | ― | ― | 15.79% | |
46 Neutral | AU$10.45M | -13.37 | -9.58% | ― | ― | 25.00% | |
44 Neutral | AU$26.54M | -3.72 | -112.37% | ― | ― | -15.47% |
* Basic Materials Sector Average
AU:CPN
Caspin Resources Ltd.
0.09
0.04
69.81%
AU:CRR
Critical Resources Ltd
0.01
0.00
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AU:MRR
MinRex Resources Limited
0.02
<0.01
60.00%
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MRG Metals Limited
―
―
―
AU:PVT
Rafaella Resources Ltd.
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<0.01
30.00%
Caspin Resources Ltd. Corporate Events
Caspin Resources Reinforces JORC Compliance and Technical Oversight in Latest Company Update
Jun 16, 2026
Caspin Resources has issued a company update outlining the technical governance behind its exploration and resource reporting, emphasizing compliance with the 2012 JORC Code. The release confirms that competent persons overseeing mineral resource ...
Caspin Defines High-Priority Moss Drill Target Near Kelpie Tin Deposit
Jun 8, 2026
Caspin Resources has identified a high-priority drill target at the Moss Prospect, located about 1,000 metres north of its high-grade Kelpie tin deposit within the Bygoo Project. Recent geophysical and geochemical work shows Moss shares key struct...
Caspin Resources Issues 265,000 Unquoted Performance Rights Under Employee Scheme
Jun 8, 2026
Caspin Resources has issued 265,000 unquoted performance rights under its employee incentive scheme, as notified in an Appendix 3G filing with the ASX. The grant of these performance rights, which are not intended to be quoted, underscores the com...
Caspin Resources Wins Strong Shareholder Backing for Placement Share Ratifications
May 13, 2026
Caspin Resources Ltd. reported that all resolutions put to shareholders at its 13 May 2026 general meeting were passed by poll, in line with ASX listing requirements and Australian corporate law. The key resolutions, including the ratification of ...
Caspin Extends High-Grade Tin Mineralisation at Kelpie By Over 75 Metres
May 5, 2026
Caspin Resources reported new reverse circulation drilling results from the Kelpie resource extension program at its Bygoo Tin Project in New South Wales, highlighting substantial down-plunge extensions of tin mineralisation along the Stewart Faul...
Caspin Resources Reaffirms Integrity of Exploration and Resource Reporting
May 5, 2026
Caspin Resources has released a company update that largely consists of confirmations around the technical integrity of its exploration and resource reporting. The announcement outlines that qualified independent experts and internal specialists h...
Caspin drills high-grade tin and raises $6m to sharpen focus on Bygoo
Apr 30, 2026
Caspin Resources reported an active March quarter at its Bygoo Tin Project, with reverse circulation drilling at the Kelpie deposit and reconnaissance work at Ardlethan East. The company also undertook geophysical and geochemical surveys across th...
Caspin Sells Mount Squires to Agrimin to Focus on High-Grade Bygoo Tin Project
Apr 21, 2026
Caspin Resources has agreed to divest 100% of its interest in the Mount Squires Project in Western Australia to Agrimin Limited via the sale of subsidiary Opis Resources. In return, Caspin will receive 5 million Agrimin shares, 5 million options, ...
Agrimin expands into West Musgrave with Mount Squires acquisition
Apr 21, 2026
Agrimin Limited has agreed to acquire Opis Resources, a Caspin Resources subsidiary that owns the Mount Squires Project in Western Australia’s West Musgrave region, securing a 100% interest in two granted exploration licences and four applic...
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...
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.