NWR Communications

WRAP 🗞️ @WAFresources banks $567M net profit; Tetratherix secures 10-year Superpower Health deal; @PerseusMining sells Sudan project for $368M 📷 Read more: tinyurl.com/mr55v3rs 📩Subscribe to the Weekly Wrap: lnkd.in/gkS4QgnF

“Theres big issues globally, large conflict in the middle east right now and thats having a big flow on effect through energy markets globally.” Our MD Will Barker was featured on @StockheadAU 's WTF with Tylah Tully to discuss the current global energy situation. $EQU

. @Element25Ltd (#ASX: #E25) is rated BUY by Petra Capital with a $1.73 price target, implying ~𝟰𝟱𝟴% 𝘂𝗽𝘀𝗶𝗱𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝘀𝗵𝗮𝗿𝗲 𝗽𝗿𝗶𝗰𝗲 𝗼𝗳 $𝟬.𝟯𝟭. Petra highlights that the company is progressing toward development at its 100%-owned, fully permitted Butcherbird #Manganese Project, with engineering work advancing, long lead items being ordered and key contracts under negotiation. Subject to funding and a final investment decision, E25 is targeting first production in March 2027. The report notes ongoing discussions to finalise offtake for 1.1Mtpa of manganese concentrate, with Petra pointing to the product’s quality as a key advantage for smelters. With most of the funding already secured and only around $20M remaining, the company is nearing a key inflection point. Petra also sees broader support from the market, noting that “declining supply and strong demand set to lift manganese prices”, particularly as battery chemistries increasingly incorporate manganese, positioning Butcherbird to benefit as the market strengthens. #Investors #Stockstowatch #SmallCaps

"Every time we drill this project, the resources go up." MD Dr Peter Turner speaks to @Miningcomau's Shae Russell about recent drilling at our 1.4Moz Mt York #Gold Project and preparing to deliver an updated Mineral Resource Estimate next month. Watch 📺 tinyurl.com/4wmc8y72

Koonenberry $KNB MD Dan Power is pictured providing an update on our portfolio of high-quality gold and copper projects at today's @NWRComms Resources Lunch in Melbourne. A copy of Dan's presentation delivered at the event is available here: loom.ly/Os5ONZ0

“As key milestones approach... we believe the gap between resource size and market value will dramatically narrow” - MD Will Barker @StockheadAU's Rueben Hale highlights $EQU as supply chain disruptions pushes crude prices higher. 📄theaustralian.com.au/business/stock…

Frontier Energy $FHE is pleased to announce a change in directors’ interest for Executive Chairman, Mr Jamie Cullen and Non-Executive Director, Mr Grant Davey. Mr Cullen and Mr Davey combined to acquire a total of 3 million shares in Frontier through on-market purchases, as follows: ✔️ Executive Chairman Mr Cullen, who became a director on 2 March 2026, acquired 1,000,000 Frontier shares on market; and ✔️ Non-Executive Director and major shareholder, Mr Davey acquired 2,000,000 Frontier shares and now holds 71,104,214 Frontier shares. The details of the changes are set out in the Appendices 3Y released to ASX today.

A key milestone for Ark Mines, with the Mining Licence granted at the Sandy Mitchell #RareEarths Project in North Queensland. The licence covers the Measured Resource (71.8Mt @ 1,732ppm MzEq) and positions the project to move from exploration toward development, with studies and offtake discussions advancing. An updated Scoping Study is due shortly, followed by a Resource update and PFS in 2H 2026. Read more: tinyurl.com/cmayxtvv $AHK

We have released our 2025 annual results today, following another year of strong operational and financial performance. ✅ Revenue: $1.54 billion ✅ Profit before tax: $808 million ✅ Profit after tax: $567 million ✅ Cash flow from operating activities: $790 million ✅ Cash and gold bullion at end of 2025: $584 million cash and 27,095 oz gold bullion ✅ Net assets at end of 2025: $1.76 billion ✅ Gold production: 300,383 oz at US$1,488/oz AISC ✅ Gold sales: 280,065 oz at US$3,525/oz average price ✅ No significant health or safety incidents during the year Read the full 2025 annual results summary here: loom.ly/Er_fwYs Read the full 2025 annual report here: loom.ly/vjSeNyI $WAF

Perseus has signed a Share Purchase Agreement to sell its 70% group interest in the Meyas Sand Project located in Sudan to Hong Kong Matrix Golden Fortune Mining Limited, a wholly owned subsidiary of Matrix Resources, for a cash consideration of US$260M. The purchase price comprises a US$10M deposit received on signing of the SPA and US$250M payable on completion of the transaction which is to occur on 22 April 2026. Proceeds will further strengthen Perseus's superior balance sheet along with consideration of additional capital returns to shareholders. Our CEO Craig Jones said: “Perseus maintains the view that the Meyas Sand Gold Project is a high quality gold project. A strategic review of Meyas Sand was undertaken as a result of the protracted armed conflict in Sudan and its impact on Perseus’s ability to progress the development at suitable scale. The sale represents an important step for Perseus in its portfolio optimisation and allows allocation of resources to core assets and its growth strategy. Matrix Group is a proven development partner with a vision for the Meyas Sand Gold Project that aligns with the development goals of Sudan.” Read more: loom.ly/JMeIz6M $PRU

WRAP 🗞️ Landmark aged care deal for @IntelicareLtd; Petra Capital sees ~335% upside in @KalamazooRes; @NWRcomms Melbourne Resources Lunch on next week 📷 Read more: tinyurl.com/ycyw6xe4 📩Subscribe to the Weekly Wrap: lnkd.in/gkS4QgnF

. @AurumResources (#ASX: $AUE) is rated BUY by Petra Capital with a $1.84 price target, implying ~188% upside to the current share price of $0.64. The note follows a 26% increase in the Boundiali Resource to 3.03Moz, lifting total group resources to 3.90Moz including Napié. Petra says the upgrade confirms Boundiali as “a premier large scale West African gold asset”, with Indicated Resources increasing 49% to 1.37Moz. The resource also includes 1.6Moz at 1.7g/t gold, a higher grade component that could support faster project payback. With 12 rigs drilling, a 100,000m program underway, and the Boundiali PFS due this quarter, Petra highlights strong momentum as the project continues to move toward development. Full report here: aurumres.com.au/wp-content/upl…

So good to see @IltaniResources getting another mention in Max Klymenko’s latest TikTok. Couldn’t happen to a better guy, go Donald! Thank you to Max and Career Ladder for making it happen ❤️ $ILT #silver #lead #zinc #indium

“Now the infrastructure's run out of gas and we are in an ideal position to backfill those facilities.” Our MD Will Barker discussing how the landscape has shifted for the Equus Gas Project since it was previously held by Hess. ▶️ Watch the full discussion below.

The first @NWRcomms Melbourne Resources Lunch for 2026 wll be showcasing a strong lineup of ASX-listed companies presenting across the resources sector. 🗓 Wednesday, 18 March 2026 📍 QT Melbourne, 133 Russell St 🕦 11:30am start | Presentations conclude ~1:00pm 🥂 Canapés and refreshments to follow Register to attend: tinyurl.com/3bp5kmuk $CNQ $LKY $KNB $MDI $GDR $EGA

. @SyntaraTx (#ASX: $SNT) is rated Speculative Buy by Euroz Hartleys with a $0.22 price target, implying ~659% upside to the current share price of $0.029. The note follows a major sector deal after @sanofi agreed to license #rovadicitinib from Sino Biopharmaceutical in a transaction worth up to US$1.53 billion, highlighting the growing commercial interest in new treatments for #myelofibrosis. Euroz says the size of the deal “speaks to the perceived value of the space,” and sees it as a positive read-through for Syntara’s lead asset amsulostat (SNT-550). In its Phase 2 study, the drug delivered encouraging results when combined with the standard-of-care therapy ruxolitinib, with 73% of patients achieving a ≥50% reduction in total symptom score and 44% achieving a ≥25% reduction in spleen volume. Euroz maintains its $0.22 risked valuation, noting its $0.41 unrisked valuation is based solely on the myelofibrosis opportunity and does not include value from Syntara’s broader pipeline.

Catch the recoding of @NWRcomms Critical Minerals webinar featuring @EQResourcesASX, @Krakatoa_Res, @Locksley_LKY, Perpetual Resources & Iris Metals. The webinar provided valuable insights into the growing importance of critical minerals and highlighted a range of companies advancing strategically important commodities across the sector. $EQR $KTA $LKY $PEC #IR1 📺youtube.com/watch?v=_GS1oc…

WRAP 🗞️ More gold for @ManyPeaksASX at Ferké; Advanced Innergy acquires Norway aquaculture business; Curran & Co initiates on @nh3cleanenergy with 380% upside 📷 Read more: lnkd.in/giVaMgXX 📩Subscribe to the Weekly Wrap: lnkd.in/gkS4QgnF

Cue notes Horizon Oil’s intention to make an off-market takeover offer for $CUE shares. S𝐡𝐚𝐫𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬 𝐚𝐫𝐞 𝐚𝐝𝐯𝐢𝐬𝐞𝐝 𝐧𝐨𝐭 𝐭𝐨 𝐭𝐚𝐤𝐞 𝐚𝐧𝐲 𝐚𝐜𝐭𝐢𝐨𝐧 𝐚𝐭 𝐭𝐡𝐢𝐬 𝐬𝐭𝐚𝐠𝐞. tinyurl.com/yu3m6tmj