Caspin Resources Ltd. (AU:CPN) has released an update.
Caspin Resources Ltd. has struck a deal with Australian Strategic Materials Ltd. (ASM) to advance the exploration and potential development of Rare Earth Elements (REE) at Mount Squires, retaining a 25% interest without funding obligations. This partnership comes after Caspin’s discovery of significant REE mineralization, allowing them to focus on nickel, copper, and gold while leveraging ASM’s expertise in REEs. The agreement includes milestone payments to Caspin and a structured earn-in for ASM up to 75% interest in the REE rights.
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