External broker reports(aggregated public sources), Bell Potter Securities

Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations.

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External broker reports(aggregated public sources)

Bell Potter Securities

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to individuals, institutions and corporations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Unhedged and debt-free production growthCMM has announced that it has repaid the remaining $50m of its corporate debt facility and is now debt free.</li><li>This had originally been established as a Project Finance Facility drawn to $90m in July 2021.</li><li>CMM’s Board has assessed its funding needs and concluded current cash ($405m at 31 March 2025, for net debt $355m) and strong free cash flows will be sufficient to meet expansion plans.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Unhedged and debt-free production growthCMM has announced that it has repaid the remaining $50m of its corporate debt facility and is now debt free.This had originally been established as a Project Finance Facility drawn to $90m in July 2021.CMM’s Board has assessed its funding needs and concluded current cash ($405m at 31 March 2025, for net debt $355m) and strong free cash flows will be sufficient to meet expansion plans.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Capricorn Metals Ltd (CMM): Exceptional Position