AlphaMatrixX

$LDX | Is the market overlooking what’s coming? Today’s Lumos AGM update has caught my attention. • 365 US sites in implementation, up from 170 in July • 495 additional sites under evaluation • 13 Top 100 urgent care groups live or evaluating • WellStreet targeting 200+ sites by 31 December • Q1 FY27 product revenue up 224% • US$317M PHASE distribution agreement • US$11.8M cash, no debt Next major catalysts: December 2026: WellStreet expansion, FDA paediatric discussions and new manufacturing facility. December to February: Peak US respiratory season. January 2027: Quarterly results and commercial progress. At 7.3c as of 11 November, I believe the market could be underestimating the opportunity if US adoption translates into recurring sales. For me, the biggest catalyst is not another approval. It’s growing test volumes across an expanding US network. 365 sites today. How many by mid-2027? $LDX #LumosDiagnostics #ASX #SmallCaps #Biotech #Healthcare #GrowthStocks Disclaimer: Personal opinion only, not financial advice. Small-cap investing carries significant risk. DYOR.

$MTM | THE ROAD TO COMMERCIAL PRODUCTION IS GETTING CLEARER Metallium’s AGM reveals some significant progress. A$50.7M cash at 30 September Preliminary PCB metal recoveries above 90% into mixed streams ~4,000 tonnes per annum under binding feedstock arrangements 10-year binding Indium Corporation offtake US$500K ECT payment received Up to US$1M US defence-related funding awarded Three FJH reactors successfully operated together for 12 hours Initial PCB metal-product revenue targeted for H1 2027 Planned 8,000-tonne-per-annum PCB processing circuit What excites me most? MTM is moving beyond technology development toward a potential commercial metals recovery business in Texas. The Glencore supply agreement, Indium offtake and ECT revenue provide a stronger commercial foundation. Traxys adds another potential opportunity, although its MOU remains non-binding. The next major catalyst is commercial execution in 2027. Importantly, the 90%+ preliminary recoveries are not yet final customer-qualified product recoveries. Scale-up and commissioning risks remain. My speculative bull-case scenario remains $1.50–$2.00, conditional on successful commercialisation. For me, the long-term opportunity is compelling, but delivery will determine the valuation. $MTM $MTMCF #ASX #CriticalMinerals #Gold #RareEarths Personal opinion only. Not financial advice. DYOR.

$DAL: TWO DIAMOND RIGS, HIGH-GRADE GOLD AND A BIG NOVEMBER AHEAD Dalaroo is stepping up exploration at its Bondoukou Gold Ridge Project in Côte d’Ivoire. Diamond drilling targeted to commence around 16 November! Key highlights: • Initial 5-hole, 1,750m diamond program • Previous discovery: 18m @ 7.31g/t gold • Additional intercept: 23m @ 2.14g/t gold • Second rig expected by late November • Northern discovery 1.25km away also targeted • Contract covering an estimated 20,000m of diamond drilling The funding position is interesting too. A$2.04M cash at the start of November, plus approximately A$13.54M in potential proceeds if outstanding in-the-money options are fully exercised. Those proceeds are not guaranteed. What excites me is the shift from discovery drilling to systematically testing the size and continuity of the gold system. With additional RC assays pending and two diamond rigs planned, the coming weeks could be significant for $DAL. The next big question: How far does this gold mineralisation extend? #DAL #ASX #Gold #GoldExploration #MiningStocks #CotedIvoire DYOR. Not financial advice. Exploration remains high risk. Mineralisation continuity and economic viability are not yet established.

$DAL: GOLD DISCOVERY JUST GOT BIGGER. IS THE MARKET UNDERVALUING THE POTENTIAL? Dalaroo’s latest results from Bondoukou in Côte d’Ivoire are looking increasingly interesting. New gold intercepts 1.25km from the original high-grade discovery! Key highlights: • 13m @ 2.67g/t gold, including 6m @ 4.19g/t • 60m @ 0.85g/t gold • 1m @ 16.20g/t gold • Previous discovery: 18m @ 7.31g/t gold • Significant gold intercepts in 8 of 12 holes reported What excites me most is the potential scale. Gold mineralisation has now been identified at widely separated locations, strengthening the case for a potentially substantial gold system. Continuity remains unproven. Next major catalysts: • Expanded 1,750m diamond drilling expected to commence within seven days • Additional RC assays pending • 35.1km IP survey planned • Further testing across the 7km gold-anomalous corridor This is moving beyond a single high-grade discovery into a potentially much larger exploration opportunity. The next drilling results could be crucial for $DAL’s valuation. #DAL #ASX #Gold #GoldExploration #MiningStocks #CotedIvoire DYOR. Not financial advice. Mineralisation continuity and economic viability remain unproven.

$MTM $MTMCF | Is Metallium Approaching Its Biggest Commercial Breakthrough Yet? My view: Metallium’s latest quarterly report shows real progress. 90%+ preliminary metal recoveries. A$50.7M cash. First US$500K technology revenue received. Texas is advancing, with PCB product sales targeted for H1 2027. The next catalyst I’m watching is the 8,000-tonne processing module Implementation Plan. Can $MTM turn promising technology into profitable commercial operations? Source: Metallium ASX Quarterly Report, 30 October 2026. Personal opinion only. Not financial advice. Commercialisation carries risks. #MTM #MTMCF #ASX #RareEarths #CriticalMinerals #Investing #GrowthStocks

Another positive development for $AT1. Atomo has partnered with Innovation Scientific to develop a 4th-generation HIV rapid test, targeting commercial launch within 24 months. I like what I’m seeing here. Another product added to the pipeline, expanding global opportunities alongside Active Syphilis. $AT1 is building for the future. One to watch. Disclaimer: Personal opinion only. Not financial advice. DYOR.

$DBO | ANOTHER CRITICAL MINERAL ADDED TO THE STORY! Diablo has now confirmed HIGH-GRADE TUNGSTEN at its Horn Project in Utah, USA. CUPRIC RESULTS: → 0.37% WO3 tungsten → 0.22% WO3 tungsten → 0.17% WO3 + 2.82g/t Au → 12.5% Cu + 3.29g/t Au + 398g/t Ag → 4.5m @ 1.26% Cu + 0.46g/t Au And here’s what makes this interesting. TUNGSTEN IS A U.S. CRITICAL MINERAL. America remains heavily reliant on foreign supply, making domestic discoveries strategically important. Two historical 1940s adits provide underground access, with mapping and sampling underway. MAIDEN HORN DRILLING TARGETED Q1 2027. Silver. Gold. Copper. Antimony. NOW TUNGSTEN. What started as a high-grade silver exploration story is developing into a much broader U.S. critical minerals opportunity. These are early-stage surface results, but the potential is becoming increasingly interesting. $DBO is one I’ll be watching very closely as drilling approaches. #DBO #Tungsten #Silver #Copper #CriticalMinerals #ASX DYOR. Speculative explorer. NFA.

$MTM | THIS COULD BE A GAME CHANGER! Metallium has signed an MOU with TRAXYS - a global commodities giant turning over US$10 BILLION+ annually! Why I’m bullish: Global feedstock sourcing Potential offtake agreements Trade financing & strategic investment opportunities Gallium, germanium, rare earths & defence metals Traxys is a named supplier to the US-backed Project Vault initiative Next major catalyst: Definitive agreements targeted by 31 December 2026. For me, the bigger picture is becoming clearer. TECHNOLOGY + FEEDSTOCK + BUYERS + FINANCING = POTENTIAL COMMERCIAL SCALE. The MOU is non-binding. No financing or offtake is guaranteed, and MTM has no Project Vault participation secured. But if this converts into binding commercial deals, I believe the market could start valuing $MTM very differently. My speculative bull-case target remains $1.50–$2.00, conditional on successful execution - not a guaranteed outcome. The next two months could be very interesting! $MTM $MTMCF #CriticalMinerals #RareEarths #Gallium #ASX Personal opinion only. Not financial advice. DYOR.

Claude

$X2M JUST ADDED ANOTHER 10MW AI DATA CENTRE PROJECT X2M has signed an agreement for a 10MW AI-enabled data centre site in regional Queensland. The numbers are getting serious: $250M estimated project cost 10MW capacity Existing 2.5MW grid connection Development approval already secured Additional 7.5MW planned via behind-the-meter generation 20MW now under agreement across two projects More than $500M aggregate estimated project cost 200MW+ prospective pipeline still in play X2M has also secured binding exclusivity over the site and power capacity for 60 days, with binding long-form agreements targeted within 90 days. The story is shifting from pipeline building to pipeline conversion. If X2M keeps converting its 200MW+ pipeline, the scale of this data centre business could change very quickly. $X2M #X2M #AI #DataCentres #ASX

$CRI at 2.3c is starting to look seriously mispriced on paper. Critica’s latest investor presentation now puts the story in one line: Two 100%-owned Australian projects. Two Scoping Studies delivered. ~A$3.0 BILLION combined after-tax NPV8. Yet at the 20 October close, $CRI was valued at just A$69.7M. JUPITER A$2.0B after-tax NPV 48.4% after-tax IRR ~2 year payback A$556M pre-production capex 1.7Bt rare earth Resource Initial mine plan uses only ~6% of the Resource. MT LINDSAY A$1.0B after-tax NPV 55.6% after-tax IRR ~1.9 year payback A$245M pre-production capex Targeting first production by end-2029. Rare earths. Yttrium. Gallium. Tungsten. Tin. One company. Two development pathways. Multiple potential catalysts. The question for the market now isn’t whether $CRI has scale. It’s whether a ~A$70M company can successfully convert those Scoping Study numbers into funded projects. That’s where the re-rate could come from. Using the latest $CRI presentation and a 2.3c starting price, I’d frame the long-term upside as a scenario range rather than a single target. CRI has about 3.03bn shares on issue, so at 2.3c the market cap is roughly A$70m. Against that, the two Scoping Studies show roughly A$3.0bn combined after-tax NPV8: about A$1.0bn for Mt Lindsay and A$2.0bn for Jupiter. My rough long-term scenarios would be: Base case: 7–12c - Mt Lindsay and Jupiter continue through feasibility, resource confidence improves, and CRI secures credible offtake/strategic partners. At 10c, CRI would be worth about A$303m on today’s share count. Bull case: 15–25c - one project becomes substantially de-risked and financed while the second retains meaningful development value. At 20c, today’s share count implies about A$606m market cap. Very bullish case: 30c+ -both projects advance successfully, strategic funding limits dilution, project economics broadly survive feasibility, and critical-mineral pricing remains supportive. At 30c, the current share count implies about A$909m. The easiest valuation shortcut is to compare market cap with the approximately A$3bn combined Scoping Study NPV. If CRI eventually traded at 10% of combined NPV, that is around 9.9c per share on today’s share count. At 20%, it is around 19.8c; at 30%, around 29.7c. But dilution is the biggest reason not to treat those as literal targets. Mt Lindsay requires roughly A$245m pre-production capital and Jupiter roughly A$556m, so CRI will need substantial debt, strategic investment, offtake funding, equity, or some combination. So from 2.3c, my personal valuation framework would put 7–12c as a reasonable long-term base-case zone, with 15–25c becoming realistic if financing and feasibility materially de-risk the projects. 30c+ is possible, but it requires a lot to go right. Not financial advice. Always DYOR. #ASX #CRI #RareEarths #CriticalMinerals #Tungsten #Tin

$CRI at 2.3c and the Jupiter Scoping Study numbers are hard to ignore. A$2.0 BILLION after-tax NPV 48.4% after-tax IRR ~2 year after-tax payback A$12.3B modelled LOM revenue A$446M average annual EBITDA A$556M pre-production capex 8Mtpa operation ~14 year processing life But this could be the most important number: The current Production Target uses only ~6% of Jupiter’s total 1.7Bt Resource. That leaves ~94% outside the current mine plan for potential future conversion, expansion or mine-life extension. And the Base Case gives ZERO value to iron, gallium or scandium. Jupiter also contains all four key magnet rare earths — Nd, Pr, Dy and Tb — representing ~23% of TREO. At 2.3c, $CRI now has a Scoping Study putting serious numbers behind Jupiter. The next phase is PFS, further metallurgy, resource conversion, offtake discussions, strategic partnerships and funding. This story is no longer just about the size of the resource. Now there are economics attached to it. Not financial advice. Always DYOR. #ASX #CRI #RareEarths #CriticalMinerals

$MTM | Interesting signal for long-term shareholders! Metallium has issued 2.5M employee performance rights linked to share price VWAP targets: 🎯 $1.00 — 500K rights 🎯 $1.25 — 750K rights 🎯 $1.50 — 1.25M rights Expiry: October 2031. These aren’t price forecasts, but they create incentives aligned with significant long-term shareholder upside. With FJH commercialisation progressing, it’s encouraging to see ambitious performance targets built into employee incentives. Long-term value creation is the focus. 📈 #MTM #ASX #CriticalMinerals #Investing

CRI’s latest announcement has put the Jupiter Scoping Study firmly on the radar. After delivering the first Indicated Resource at Jupiter, CEO Jacob Deysel said: “The Jupiter Scoping Study is progressing and will be released shortly.” That looks like the next major catalyst for CRI. The market should finally get a clearer view on the potential development case, processing route and project economics. Could be a very important announcement if the numbers stack up. Always DYOR.

$MTM SMASHED ON THE MARKET, BUT IS THE TECHNOLOGY STORY GETTING STRONGER? Metallium shareholders have endured a brutal sell-off, but the latest announcement raises an interesting question. Is the market overlooking the progress being made? ECT has confirmed the successful production of MXene using $MTM’s Flash Joule Heating technology, with independent XRD analysis supporting the formation of chlorine-terminated MXene. This is significant. MXenes have potential applications in defence, electromagnetic shielding, advanced coatings and next-generation electronics. And the bigger picture? $MTM is no longer just targeting critical metals recovery. Its technology could potentially generate revenue through engineering services, licensing and advanced materials processing. What comes next? Further optimisation and repeatable MXene production Independent testing against defence specifications Samples for prospective defence customers Customer qualification and potential commercial opportunities The technology is progressing, but commercial-scale economics and repeatable production still need to be proven. The share price has been smashed. The commercial opportunity hasn’t disappeared. Could this be the disconnect investors look back on? The next few announcements could be crucial. $MTM #ASX #CriticalMinerals #MXene #Defence #AdvancedMaterials #SmallCaps #Investing Disclaimer: Not financial advice. Speculative investment. Technical success does not guarantee commercial success or share price recovery. DYOR.

$CRI may have just moved Jupiter into a completely different category. Critica has delivered Jupiter’s first Indicated Mineral Resource: 160Mt @ 1,700ppm TREO That sits inside a total Jupiter Resource of: 1.7 BILLION tonnes @ 1,700ppm TREO And here’s the part the market may focus on next: Only around 10% of the Jupiter Resource area has been infill drilled at the tighter spacing used to support Indicated classification. The rest is still largely Inferred. That means this update isn’t about discovering Jupiter. It’s about proving up what is already there. The new Indicated Resource also carries a strong magnet rare earth component, with Nd, Pr, Dy and Tb making up around 25% of TREO. So the setup is becoming clearer: Massive scale. First Indicated tonnes. Higher confidence. Magnet REO exposure. Only a fraction of the resource area infill drilled. And the Jupiter Scoping Study is still to come. That next study could be the real valuation event. $CRI is now moving from “how big is Jupiter?” to “what could Jupiter actually be worth?” That’s a very different question. Not financial advice. Always DYOR. #ASX #CRI #RareEarths #CriticalMinerals #Mining

$DAL | THE STORY JUST GOT MORE INTERESTING! Last week, Dalaroo delivered a high-grade gold discovery: 18m @ 7.31g/t Au Today, another potentially significant development. 34m of alteration and quartz veining identified 1.25KM from the original discovery! The exciting part for me is that the new hole shows geological similarities to the original discovery hole. But remember, only TWO holes have reported gold assays so far. And look what’s coming: • 10 RC holes now completed • BDRC010C assays expected before the end of October • 7 more holes awaiting assays from early November • Diamond drilling planned for October • Further testing across a ~7KM gold corridor For me, this is where things could get very interesting. If upcoming assays confirm gold mineralisation 1.25km away, how much bigger could this discovery become? The first two holes got everyone’s attention. The next batch could help determine the scale of the opportunity. What do you think? Is $DAL only getting started? #DAL #ASX #Gold #GoldDiscovery #MiningStocks #SmallCaps #Exploration Disclaimer: This is my personal opinion only. DYOR.

No one pumps it’s news from the announcement 📣 DYOR always