East Coast Research, Suite 4104, Gateway, 1 Macquarie Place, Sydney (2026)

04/06/2026

Breakthrough Minerals (ASX: BTM) — District Scale Copper Opportunity with Significant Resource Growth Potential

We initiate coverage on Breakthrough Minerals Limited (ASX: BTM) with a 12-month target price of A$0.68, representing ~204% upside from the current A$0.23 share price.

Why BTM stands out:

1️⃣ Leveraged Copper Exposure

Breakthrough Minerals has repositioned itself as a leveraged copper exposure through its NQCG Project, a high-grade copper-gold resource in Mt Isa, Queensland.

2️⃣ Existing JORC Resource Base

The 100%-owned NQCG Project has an existing JORC 2012 Mineral Resource of 18.8Mt at 1.07% CuEq, containing approximately 200kt of CuEq.

3️⃣ Infrastructure Advantage

The project is located near infrastructure owned by Glencore, Harmony Gold, and AIC Mines, creating potential low-capex development pathways and reducing ex*****on risk.

4️⃣ Catalyst-Rich Growth Phase

BTM is entering a catalyst-rich phase, supported by a ~10,000m drilling programme, Barbara and Hazel Creek targets, potential 2026 MRE upgrades, and gold portfolio diversification.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/breakthrough-minerals-asx-btm

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Disclaimer: This report was published on 4 June 2026.

://eastcoastresearch.com.au/reports/reports-db/breakthrough-minerals-asx-btm

03/06/2026

Haranga Resources (ASX: HAR) — Maiden JORC Resource and Dual-Asset Gold Growth Strategy Strengthen HAR’s Gold Growth Story

We are revising our target price for Haranga Resources (ASX: HAR) upwards to A$0.53, implying ~324% upside from the current A$0.13 share price.

Update highlights:

1️⃣ Maiden JORC Resource at Lincoln

Haranga delivered a maiden JORC-compliant MRE of 2.46Mt @ 5.1g/t Au for 402koz Au, strengthening Lincoln’s scale and development potential.

2️⃣ High-Grade Gold Asset with Existing Infrastructure

Lincoln combines high-grade gold mineralisation, advanced permitting, underground development and a fully permitted processing facility supported by over A$90m in historical investment.

3️⃣ Resource Growth Potential at Depth

Recent underground drilling across crosscuts XC3–XC8 supports the interpretation of repeated mineralised lodes at depth, reinforcing broader resource growth potential at Lincoln.

4️⃣ Ibel South Adds Discovery Leverage

Ibel South has confirmed an ~800m continuous mineralised trend open along strike and at depth, with Phase 3 RC drilling assays expected in late June 2026.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/haranga-resources-asx-har-june-2026-update

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Disclaimer: This report was published on 3 June 2026.

02/06/2026

▶️ WATCH: Power Minerals (ASX:PNN) Advances One of the World’s Highest-grade Rare Earth Projects

In this Leadership Talks session, we sit down with Alistair Stephens, CEO of Power Minerals (ASX: PNN), as the company advances Morro do Ferro in Brazil — a high-grade rare earths project with global significance, strategic supply chain relevance and a clear runway of drilling, assay and resource catalysts ahead.

Key Highlights:

• Power Minerals is repositioning around Morro do Ferro, a high-grade Brazilian rare earths project with strategic exposure to the global supply shift.

• Morro do Ferro’s rare 1946 mining title, land ownership rights and no-expiry tenure give PNN a strong development advantage in Brazil.

• The project is being positioned as one of the world’s highest-grade rare earth development projects, with high-grade rare earths averaging around 5% TREO.

• Near-term drilling, assay results, metallurgical test work and a targeted Q4 2026 Mineral Resource Estimate create a clear catalyst pathway for investors.

WATCH FULL INTERVIEW: https://www.youtube.com/watch?v=-Fx86ZkGS3I

01/06/2026

📸 Shares in Value and East Coast Research present: an exclusive Mining Masterclass with Hedley Widdup.

With mining stocks continuing to play a major role in the ASX market, our members had the opportunity to hear directly from Hedley Widdup of Lion Selection Group, one of Australia’s leading mining investors and resource specialists.

Hedley shared his outlook for the resources sector, the themes currently driving capital flows, and where opportunities may emerge over the next 12–24 months.

Thanks to everyone who joined us last Friday in Melbourne for an afternoon of sharp market insights and thoughtful discussion.

We look forward to creating more opportunities for our members to hear directly from experienced market specialists on the sectors shaping ASX investor interest.

25/05/2026

GoldArc Resources (ASX: GA8) — Bonanza Gold Hits and Funded Mine Development Strengthen GA8 Investment Case

We are revising our target price for GoldArc Resources (ASX: GA8) upwards to A$0.20, implying 187% upside from the current A$0.07 share price.

Update highlights:

1️⃣ Two Funded Development Pathways
Mt Stirling is advancing toward partner-funded production, while the MMS binding term sheet converts Orion-Sapphire into a second funded development pathway.

2️⃣ Bonanza-Grade Niagara Results
Niagara drilling confirmed a coherent 5km multi-deposit gold trend, supporting the Leonora South scale thesis beyond a single isolated deposit.

3️⃣ Funded 12-Month Drilling Program
The $7.2m placement, co-invested by BMLV, funds a systematic drilling program through 2026 and into 2027.

READ FULL REPORT:
https://www.sharesinvalue.com.au/wp-content/uploads/2026/05/GoldArc-Resources_ECR-Update-Report-25-May-2026.pdf

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Disclaimer: This report was published on 25 May 2026.

21/05/2026

▶️ WATCH: Terra Metals (ASX: TM1) Inside a World-Class PGM Discovery with Multi-Commodity Upside

In this Leadership Talks session, we speak with Thomas Line, CEO & Managing Director of Terra Metals (ASX: TM1), to discuss the company’s Dante Project in Western Australia, where a world-class PGM discovery is advancing within a large-scale polymetallic system with multi-commodity exposure.

In this exclusive interview, Thomas highlights:

✓ A World-Class PGM Discovery: Dante’s world-class PGM discovery within a polymetallic system with scale in Western Australia.

✓ Southwest’s High-Grade Breakthrough: The Southwest PGE-Cu-Ni discovery, including results up to 52.97g/t PGE3 and Phase 4 drilling now underway.

✓ More Than a PGM Story: Dante’s 148Mt MRE across Ti-V-Cu-Au-PGM commodities and broader exposure to critical and precious metals.

✓ What Investors Should Watch Next: Phase 4 drilling, a maiden Southwest MRE targeted in H2 2026, and a Pre-Feasibility Study targeted for 2027.

With strong funding, active drilling and major multi-commodity upside, Terra Metals is positioning Dante as a significant emerging PGM discovery in WA.

WATCH FULL INTERVIEW: https://www.youtube.com/watch?v=4wrIJAIATTY

19/05/2026

Leeuwin Metals (ASX: LM1) — Maiden Gold Resource and Ongoing Drilling Strengthen LM1 Re-rating Potential

We are revising our target price for Leeuwin Metals (ASX: LM1) upwards to A$0.52, implying 285% upside from the current A$0.14 share price.

Update highlights:

1️⃣ Defined Gold Resource
Marda has a maiden JORC 2012 MRE of 10.2Mt @ 1.05g/t Au for 342,300oz, reported above a 0.30g/t Au cut-off.

2️⃣ Stronger Tenure Position
All 342,300oz are located on granted Mining Leases, providing tenure security and a clearer platform for future development studies, feasibility work and project financing.

3️⃣ Near-Term Growth Catalysts
Evanston hosts 135,800oz, with recent RC drilling confirming mineralisation beyond the current resource envelope and drilling planned to recommence in May 2026.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/leeuwin-metals-asx-lm1-update-may-2026

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Disclaimer: This report was published on 19 May 2026.

13/05/2026

PhosCo Ltd (ASX: PHO) — Emerging Phosphate Producer with Strong Structural Tailwinds

We initiate coverage on PhosCo Ltd (ASX: PHO) with a target price of A$0.56, implying 387% upside from the current A$0.12 share price.

Why PHO stands out:

1️⃣ Gasaat Scoping Study Economics

Gasaat’s 2022 Scoping Study outlined an after-tax NPV10 of US$657M, 54% IRR, 1.5-year payback, and 1.5Mtpa production target over a 46-year mine life.

2️⃣ Updated MRE Supports Project Economics

Gasaat’s updated MRE increased to 166.6Mt at 20.6% P2O5, up 13.8% from 146.4Mt, with KM and SAB expected to enhance mining economics.

3️⃣ Strong Institutional and Government Support

PhosCo is backed by the Tunisian Government and EBRD, including €1M grant funding and A$7.5M equity funding to support Gasaat’s BFS.

READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/phosco-asx-pho

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Disclaimer: This report was published on 13 May 2026.

11/05/2026

▶️ WATCH: Stellar Resources (ASX: SRZ) Secures Strategic Backing from Metals X in $22.1M Raise

In this interview, we welcome back Simon Taylor, Managing Director & CEO of Stellar Resources (ASX: SRZ), to discuss the company’s transformational $22.1 million capital raise and how it positions Stellar to accelerate development of the Heemskirk Tin Project in Tasmania.

✔ $22.1M Capital Raise Completed – Including a $17M cornerstone investment from Metals X, now a 16.4% shareholder with board representation.

✔ Heemskirk Tin Project – Australia’s highest-grade undeveloped tin project and one of the highest-grade globally, targeting 3,000–3,500tpa payable tin production.

✔ Strong Market Fundamentals – Simon discusses tightening global tin supply, geopolitical disruptions in key producing regions, and rising demand driven by electrification, semiconductors, and renewable energy.

✔ PFS & DFS Development Pathway – Fully funded pathway through PFS in Q3 2026, with permitting and development milestones advancing rapidly.

✔ Metallurgical & Ore Sorting Breakthroughs – Improved recoveries and ore sorting optimisation expected to materially enhance project economics and reduce processing costs.

✔ Resource Growth Potential – Ongoing drilling at Severn and Montana aimed at increasing resources, upgrading inferred material, and extending mine life.

With a strengthened balance sheet, major strategic backing, and increasing global focus on secure tin supply chains, Stellar Resources is positioning itself as a future globally significant tin producer.

Watch Full Session: https://youtu.be/kwZyukCe4GE

06/05/2026

Terra Metals (ASX: TM1) — High-Grade Discovery with Major Upside Potential

We initiate coverage on Terra Metals (ASX: TM1) with a target price of A$0.84, offering 205% upside from the current A$0.28 share price.

Why TM1 stands out:

1️⃣ Strong Performance
TM1 has delivered a ~10x return over the past 12 months, reflecting the strength of its high-grade discovery.

2️⃣ Target Price & Upside
Revised target price of A$0.84 offers 205% upside from A$0.28, with potential for further re-rating driven by the Southwest discovery.

3️⃣ High-Grade Drilling
Drilling results, including 52.97g/t, confirm scale, continuity, and the potential for a resource-scale sulphide system at Southwest.

4️⃣ Financial Strength
A$85m raise strengthens TM1’s balance sheet, supporting ongoing drilling with no immediate dilution risk.

📩 READ FULL REPORT:
https://eastcoastresearch.com.au/reports/reports-db/terra-metals-asx-tm1-1

Subscribe to our research for free:
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Disclaimer: This report was published on 6 May 2026.

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