Daily Roundup

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Caprice Resources Extends Gold Mineralisation at Vadrians

Caprice Resources Ltd has reported exciting results from its ongoing Phase 4 drilling campaign at the Island Gold Project in Western Australia. The company has confirmed that gold mineralisation at the Vadrians lode system extends to at least 400 metres below surface, with two diamond holes intersecting gold at depths of 294 metres and 415 metres down dip. These results reinforce the system's continuity at depth and demonstrate the potential for further resource growth.

The metallurgical drilling programme also delivered standout grades in fresh rock, including an impressive intersection of 9.0 metres at 9.1 grams per tonne gold from 106 metres, containing 7.0 metres at 11.6 g/t gold. These results add to the geological model's confidence and showcase the predictable controls essential for robust resource assessment.

Caprice Resources is pleased with the progress of the Phase 4 drilling campaign, which is ongoing and expected to continue through the end of 2025 and into 2026. With three rigs operating continuously, the company anticipates a steady flow of assays in the coming quarters, providing multiple near-term catalysts for investors.

VBX Advances Wuudagu C Bauxite Project

VBX Limited has received encouraging infill drilling results from the Wuudagu C bauxite deposit in Western Australia. The 145 holes drilled returned several high-grade intercepts, including 6 metres at 44.0% alumina and 7.0% silica from surface, 5 metres at 42.0% alumina and 6.2% silica from surface, and 4 metres at 53.8% alumina and 7.9% silica from 1 metre depth. These results are consistent with the previously reported Indicated Mineral Resource Estimate for Wuudagu C.

VBX is now conducting a metallurgical optimisation test work program to refine the beneficiation plant design as part of the Definitive Feasibility Study for the broader Wuudagu project. The company is targeting an increase in the confidence of the Wuudagu C resource, which previously demonstrated attractive economics in a Preliminary Feasibility Study. With discussions progressing with potential offtake and funding partners, VBX is well-positioned to advance the Wuudagu project towards a development decision.

PWR Holdings Appoints New CEO and Managing Director

PWR Holdings Limited has announced the appointment of Sharyn Williams as its new Chief Executive Officer and Managing Director. Ms. Williams currently serves as the company's Chief Financial Officer, a role she has held since 2025. She brings over 17 years of ASX-listed experience as an Executive Leader and CFO, with a strong background in driving strategic, financial, governance and operational outcomes.

Matthew Bryson will continue as Acting CEO until a replacement CFO is found, at which point Ms. Williams will assume the CEO and MD role. Mr. Bryson will then return to his position as Chief Technical and Commercial Officer. The Board's decision to appoint Ms. Williams reflects her proven track record of success at PWR and the company's confidence in her ability to lead the business forward.

EPX Proposes to Acquire Wattwatchers

EPX Limited has submitted a Deed of Company Arrangement (DOCA) proposal to acquire Wattwatchers Pty Ltd, an Australian provider of real-time energy data and monitoring solutions. Wattwatchers is currently under voluntary administration, and EPX's proposal will be considered by the company's creditors at a meeting on 15 December 2025.

The EPX DOCA proposal contains a cash and ordinary shares consideration, with customary conditions precedent. If approved, the transaction would see EPX acquire Wattwatchers' assets, staff, intellectual property, technology and sales contracts. This proposed acquisition aligns with EPX's strategy to expand its energy management and monitoring capabilities, and the outcome of the creditors' meeting will be closely watched by investors.

Bapcor Provides Guidance Update

Bapcor Limited has updated the market on its guidance for the first half and full year of FY26. The company expects its Statutory Net Profit after Tax (NPAT) for 1H26 to be a loss in the range of $8 million to $5 million, which includes approximately $19 million in pre-tax one-off and non-recurring items.

Bapcor's underlying 1H26 NPAT, excluding these one-off items, is expected to be between $5 million and $8 million. The weaker than expected trading performance in October and November, particularly in the Trade segment, has impacted the 1H26 results.

For the full year FY26, Bapcor expects Statutory NPAT to be in the range of $31 million to $36 million, excluding the potential 1H26 impairment associated with the New Zealand segment. The company's Underlying NPAT for FY26, before the anticipated one-off items, is expected to be between $44 million and $49 million. Bapcor anticipates an improvement in 2H26 performance, driven by operational improvements, pricing realignment measures, and the realisation of previously announced savings initiatives.