East Coast Research

22/10/2026

Thanks to everyone who joined our Shares in Value and East Coast Research investor lunches in Brisbane and Melbourne. Two great sessions with full rooms.

A big thank you to BlinkLab Limited (ASX:BB1) and Patrys Limited (ASX: PAB) for presenting and spending time with our members.

BlinkLab Chairman Brian Leedman spoke about how the company uses AI and smartphone technology to support earlier assessment of autism and ADHD.

Patrys CEO Dr Samantha South spoke about the company's work in ICU delirium, taking a proven drug and focusing on better delivery.

Thank you also to our members and clients for your continued support and for making both events such a success.

22/10/2026

WATCH: Caspin Resources (ASX: CPN) | Kelpie Grows 45% to 28kt Tin and Advances Development

In this Leadership Talks exclusive interview, Greg Miles, Managing Director of Caspin Resources Limited (ASX: CPN), discusses the latest progress at the Bygoo Tin Project in New South Wales following the updated Kelpie Mineral Resource.

Kelpie has grown to 6.5Mt @ 0.43% Sn for 28kt of contained tin, representing a 45% increase in contained tin. Greg explains what that means for the project, why Kelpie’s open-pit grade remains a key differentiator, and where the next phase of growth and development work is focused.

Key Highlights:

✔️ Kelpie has reached an important development threshold at 28kt of contained tin.

✔️ The updated MRE delivered 45% growth from only about 8,400m of additional drilling.

✔️ At 0.43% Sn, Kelpie continues to stand out among open-pit tin development projects.

✔️ Further growth is being targeted through drilling around Errol’s and Dumbrell’s, plus extensions beyond the current MRE.

✔️ Strong metallurgy, regional exploration and long-term tin supply-demand fundamentals continue to shape the next phase at Bygoo.

▶️ Watch the full interview: https://www.youtube.com/watch?v=ogz8p3AmLSA

20/10/2026

OD6 Metals (ASX: OD6) — Strategic US Fluorspar Exposure, Fully Funded for Maiden Drilling

We update coverage on OD6 Metals (ASX: OD6) with a midpoint target price of A$0.40, implying 337% potential upside from the current share price of A$0.09.

OD6 is building a strategic US fluorspar position through the 100%-owned Quinn Project in Nevada, where expanding scale, high-grade results and funded drilling are moving the project toward resource definition.

What the investment case centres on:

1️⃣ Quinn now spans 226 claims across ~1,890ha, with more than 20 known fluorspar occurrences across seven project areas.

2️⃣ High-grade results continue to stand out, with Rocket–Big Jim–Spar returning samples up to 99.9% CaF₂ and Horseshoe channel grades reaching 85.8% CaF₂.

3️⃣ Quinn is positioned within the US critical-minerals supply chain, with OD6 accepted into the US Defense Industrial Base Consortium and engaging with federal initiatives.

4️⃣ An A$6.92m placement leaves OD6 fully funded for ~10,000m of maiden drilling, bulk sampling and resource-definition work, with a maiden JORC MRE the key next catalyst.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/od6-metals-asx-od6-update-october-2026

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15/10/2026

WATCH: Stelar Metals (ASX: SLB) | The Team Behind Core Lithium's Success Advances a New NT Tungsten Opportunity

In this Leadership Talks exclusive interview, Stephen Biggins, Executive Chair of Stelar Metals (ASX: SLB), discusses the Hill of Leaders Tungsten Project in the Northern Territory.

Stephen previously led Core Exploration, now Core Lithium (ASX: CXO), and is now pursuing another critical-minerals opportunity in a jurisdiction he knows well. With high-grade tungsten at surface and first-ever bedrock drilling underway, the discussion looks at what could define the next stage of the Hill of Leaders story.

Key Highlights:

• Surface assays have reached 15.69% WO₃, with high-grade tungsten identified across an extensive mineralised area.

• China controls around 83% of global tungsten mining and refining, increasing the strategic importance of alternative Western supply.

• Maiden RC drilling is now testing grade, width and continuity beneath the surface mineralisation.

• Tungsten identified in the surrounding granite could point to a broader mineralised system beyond the high-grade quartz veins.

• Investors can look ahead to drilling updates, assay results, follow-up RC and diamond drilling, and progress toward resource definition.

▶️ Watch the full interview: https://www.youtube.com/watch?v=0-KXlxTYULE

14/10/2026

A great afternoon with Identifai Genetics (ASX: ID1).

Today’s investor lunch was one of our best sessions so far. It was great to have many of our clients join us to hear directly from the team.

CEO Eyal Miller and Professor Noam Shomron shared the story behind Windrose, the opportunity they’re pursuing and the milestones ahead. The questions and discussion made for a terrific event.

ID1 listed yesterday and has made a strong start on the ASX. We’ll be watching how the team progresses its clinical validation and commercialisation plans.

Thanks to Eyal, Noam and the Identifai team, and to our clients who joined us.

12/10/2026

Terra Metals (ASX: TM1) — Southwest Takes Shape as a Large-Scale Discovery Ahead of Maiden MRE

We update coverage on Terra Metals (ASX: TM1) with a revised target price of A$0.81, implying 461% potential upside from the current share price of A$0.15.

Since our previous coverage in May 2026, TM1 has significantly expanded its Southwest PGM-Cu-Ni-Co discovery, with drilling strengthening confidence in the system's scale, continuity and grade potential. The company has also progressed toward systematic resource definition ahead of its maiden MRE.

What the investment case centres on:

1️⃣ Drilling has defined Southwest mineralisation over more than 1,350m of strike, approximately 700m across strike and 750m down-dip, with the system remaining open for further exploration.

2️⃣ Recent drilling confirmed multiple stacked high-grade PGM reefs, including 5m at 5.45g/t 3E, strengthening Southwest's grade potential within a substantial mineralised system.

3️⃣ With over 56,000m drilled and five rigs active, TM1 is advancing toward its maiden Southwest Mineral Resource Estimate, targeted for early 2027.

4️⃣ TM1 ended June 2026 with A$75.1 million in cash, supporting continued exploration, resource-definition drilling and technical studies, alongside a strengthened leadership team.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/terra-metals-asx-tm1-update-october-2026

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06/10/2026

Gateway Mining (ASX: GML) — Multiple Targets, One Emerging District-Scale Gold System

We update coverage on Gateway Mining (ASX: GML) with a target price of A$0.16, implying 125% potential upside from the current share price of A$0.07.
Since our previous coverage, GML has added an entirely new mineralised corridor along the Celia Shear, while the Mustang Shear and Great Western trends have continued to grow. The company has also materially strengthened its funding position.

What the investment case centres on:

1️⃣ Cowza returned 41m at 2.0g/t Au, including 9m at 7.5g/t Au, confirming mineralisation continues from oxide into fresh rock.

2️⃣ The Celia Shear now spans an emerging ~30km prospective corridor across Cowza, Celia South, Ward and Pewy, supporting a broader district-scale exploration thesis.

3️⃣ The wider Yandal pipeline is also advancing, with Haflinger extended to 4km of strike, Hummer showing primary mineralisation at depth and Mustang delivering its first significant result.

4️⃣ Great Western has also moved into systematic drill testing, adding another exploration front alongside the Celia and Mustang Shear trends.

5️⃣ GML now has ~A$60.1m pro forma cash and a fully funded ~120,000m drilling program following its A$45m placement.

READ FULL REPORT:
https://www.sharesinvalue.com.au/files/gateway-mining-asx-gml-update-october-2026-5h124.pdf

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29/09/2026

QMines (ASX: QML) — Mt Chalmers Development Progress Unlocks Regional Upside

We update coverage on QMines (ASX: QML) with a midpoint target price of A$0.24, implying 233% potential upside from the current share price of A$0.07.

QML is progressing from a resource-led junior towards a more advanced Central Queensland copper-gold developer, with Mt Chalmers advancing through feasibility while regional growth opportunities continue to develop.

What the investment case centres on:

1️⃣ Mt Chalmers has a 9.6Mt Ore Reserve, with its fully funded DFS targeted for completion by year-end 2026.

2️⃣ QML is undertaking its largest drilling campaign to date, with more than 10,000m underway and recent results including 35m at 2.88% Cu and 0.75g/t Au.

3️⃣ The regional development case is expanding, with Develin Creek being assessed in a 2Mtpa expansion case and Mount Mackenzie’s resource containing 170koz of gold.

4️⃣ The A$15m QIC funding package fully funds the DFS, while BurnVoir has been appointed to progress development financing alongside the study.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/qmines-asx-qml-update-september-2026

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Disclaimer: This update report was published on 29 September 2026.

24/09/2026

▶️ WATCH: Advancing Rare Earths, Tin & Tungsten Projects

In this Leadership Talks session, Jacob Deysel, CEO of Critica, returns with major updates across Jupiter in Western Australia and Mt Lindsay in Tasmania, as both projects move through key technical and development milestones.

Key Highlights:

1️⃣ Jupiter has demonstrated ~95% mass rejection and up to 14x grade uplift through beneficiation.

2️⃣ Critica is advancing Jupiter toward a Scoping Study covering scale, processing, economics and development pathways.

3️⃣ Mt Lindsay’s updated 19Mt resource includes significant tin and tungsten exposure in a secure Australian jurisdiction.

4️⃣ Critica is redesigning Mt Lindsay around a lower-impact underground development concept using existing infrastructure.

5️⃣ Both projects are progressing toward clearer commercial, funding, offtake and strategic partnership pathways.

WATCH FULL INTERVIEW:
https://www.youtube.com/watch?v=slUJOVCBLOg

In this Leadership Talks, Critica (ASX: CRI) CEO Jacob Deysel discu...

22/09/2026

Killi Resources (ASX: KLI) — WA’s Next Premium Iron Ore Opportunity, Backed by Proven Leadership

We initiate coverage on Killi Resources Limited (ASX: KLI) with a 12-month target price of A$0.60, implying approximately 115% upside from the current share price of A$0.28.

KLI is transitioning from a junior explorer into an emerging WA iron ore developer, supported by the 110Mt Lodestone resource, significant exploration upside and potential exposure to premium DR-grade iron ore.

What the investment case centres on:

1️⃣ Lodestone hosts a 110Mt Inferred Resource, covering only ~20% of its broader 25km mineralised corridor.

2️⃣ KLI’s fully funded 20,000m drilling program is testing ~15km, with early drilling extending mineralisation beyond the current resource.

3️⃣ KLI has strengthened its leadership with former Fortescue MD and CEO Nev Power as Chairman, supported by a seasoned development team.

4️⃣ Metallurgical work has produced a 69% Fe, low-impurity concentrate, with coarse magnetite offering potential processing advantages.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/killi-resources-asx-kli

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Disclaimer: This initiation report was published on 22 September 2026.