WILDCAT RESOURCES LIMITED (WC8)
Share Price Analysis and Chart

12/12/2025

1

Buy

$0.40

6.67%

Ord Minnett has upgraded its 2026 commodity outlook after a year of supply-driven price strength, reflecting increased confidence amid improving, though uneven, global growth.

Gold is the standout, with the 2026 price forecast lifted 8% to US$4,200/oz, broadly in line with spot. Copper price forecast for 2026 lifted by 3% and coking coal by 2%, while nickel price trimmed by -4% and NdPr by -2%.

The broker revised the long-run forecast for AUD to US$0.70 from US$0.75, which is a key driver of earnings and valuation upgrades across the sector.

Overall, the broker reckons ongoing supply disruptions and underinvestment will support firmer commodity prices and stronger miner cash flows.

For Wildcat Resources, the broker made no changes to FY25-26 EPS forecasts. Buy retained, and target raised to 40c from 35c.

12/11/2025

1

Speculative Buy

$0.50

33.33%

Canaccord Genuity has transferred coverage of Wildcat Resources to analyst Reg Spencer following the July 2025 preliminary feasibility study (PFS) for the Tabba Tabba lithium project.

The PFS outlined a staged open-pit and underground operation producing up to 565ktpa, with life-of-mine costs (AISC) of -US$658/t and capex of -US$687m, presenting a robust and capital-efficient development base, suggests the broker.

Optimisation work ahead of the 2026 definitive feasibility study (DFS) includes petalite and tantalum co-products, mine plan improvements, and resource expansion at Han and Hutt.

With $51m cash, Wildcat remains well funded through study phases, assesses Canaccord.

Unchanged Speculative Buy rating and 50c target.