Daily Brief Australia: Primero Group Ltd, ADX Energy Ltd and more

• Acquired Entity Operating as a Key Growth Pillar: Primero Group is no longer a publicly traded entity (PGX AU), following its acquisition by NRW Holdings (ASX: NWH) in March 2021. It now operates as a key component of NRW’s Minerals, Energy & Technologies division, providing vertically integrated engineering, procurement, and construction (EPC) services.
• Vertically Integrated Business Model: The company specializes in the design, construction, and operation of global resource projects, offering a turnkey solution that spans the entire project lifecycle. This integrated model, which includes Build-Own-Operate (BOO) solutions, provides a competitive differentiation and allows for capturing value across different stages of a project.
• Strategic Positioning for Energy Transition: Primero has established a strong foothold in projects related to future-facing commodities, including lithium, vanadium, and hydrogen, positioning it to capitalize on the global shift towards sustainable energy. This aligns with NRW’s strategy to diversify and expand its capabilities in high-growth sectors.

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• ADX has raised A$3.5 mm through a new equity placement at A$0.026 per share.
• Investors in the placement will also receive one option for every two new shares subscribed, exercisable at A$0.039 per share.
• The capital raise strengthens ADX’s balance sheet ahead of its 2026 work programme and effectively removes the funding overhang that had weighed on the stock.