Castile Resources (ASX:CST) has completed its preliminary analysis to establish a 99% bismuth production pathway at its Rover 1 project in the Northern Territory, according to a Thursday filing with the Australian bourse.
The company is now considering options for a downstream pathway for the bismuth, and expects a "significant" contribution from the metal to the bankable feasibility study, the filing said.
Shares of the company rose past 9% in recent Thursday trade and earlier hit a 52-week high.