Ceo Appointment, page-65

Following is the summary of the East Coast Research report from AI Perplexity:

Summary of the Critica Ltd Coverage Report (2 June 2025)Company OverviewCritica Ltd (ASX: CRI), formerly Venture Minerals, is an Australian mineral exploration company focused on rare earth element (REE) assets, primarily the Jupiter and Brothers projects in Western Australia.The company has shifted its strategy to prioritize critical minerals, reflecting market demand and geopolitical trends favoring non-China REE supply sources1.Key Asset: Jupiter ProjectJupiter is now recognized as Australia’s largest and highest-grade clay-hosted rare earth resource, with a maiden JORC 2012-compliant inferred resource of approximately 1.8 billion tonnes at 1,700 ppm TREO (Total Rare Earth Oxides)1.There is a high-grade subcomponent (2,200 ppm TREO) within the resource, and the mineralogy is consistent and shallow, making extraction potentially more efficient1.The project’s location is advantageous, being close to major infrastructure (sealed highways, Geraldton port) and two planned REE processing plants, which derisks development and offers toll treatment options1.Strategic UpsideCritica has identified five additional Jupiter-like deposits within the wider Brothers project area, each potentially as prospective as Jupiter, indicating significant exploration upside1.The company’s recent metallurgical results are strong, showing a grade upgrade factor of approximately 830% and a mass reduction of 94.5% in concentrate, supporting the development of proprietary processing intellectual property1.Financials and ValuationCritica is well-funded for its 2025 exploration and development programs1.The report assigns a fair valuation of $0.086 per share, representing a 562% upside from the current price of $0.013, and a market cap base case of A$223 million (diluted)1.The valuation uses conservative peer-based multiples, suggesting significant upside even without aggressive assumptions1.Investment RationaleThe combination of best-in-class grade, scale, infrastructure access, and multiple development options (including potential M&A) positions Critica as a strategic asset in the REE sector1.The company’s pivot to REE has been validated by rapid, low-cost exploration success and strong resource definition1.The broader REE market is experiencing favorable conditions due to rising demand and Western efforts to diversify supply chains away from China1.Risks and DisclosuresThe report notes that East Coast Research, the analyst’s firm, has been engaged and paid by Critica for ongoing research coverage1.ConclusionCritica Ltd is positioned as a leading Australian rare earths explorer with a world-class resource base, significant exploration upside, and strong strategic levers for value creation, all underpinned by robust market dynamics and a well-funded balance sheet1.