# REC: Investor Presentation - NWR Investor Lunch Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e Original source: https://www.asx.com.au/asx/v2/statistics/displayAnnouncement.do?display=pdf&idsId=03149955 Publisher: asx Original announcement: 2026-10-07T22:24:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-07T23:17:31.287Z Atlas analysis updated: 2026-10-07T23:17:31.287Z - Company: Recharge Metals Ltd - Ticker: REC - Exchange: ASX - Region: Western Australia - Primary commodity: Gold - Secondary commodities: Copper, Molybdenum, Tungsten - Document categories: Resource update, Other - Extracted: 2026-10-07 23:17:32 UTC Narrative sentiment: 0.20 · Bullish ## Minestarters Atlas summary Recharge Metals Ltd's investor presentation highlights the previously announced \(February 2026\) Inferred Mineral Resource for the Prospero Deposit at its Sunset Well Project, totaling 2.87 Mt at 1.0 g/t gold for 94,500 ounces. The presentation also provides an overview of the company's other exploration projects, including Brandy Hill South, but does not present new drill results with sufficient detail for extraction. Reasoning: The investor presentation re-states a JORC-compliant Inferred gold resource for the Prospero Deposit, which is positive for transparency and confidence, but the estimate itself is not new and is entirely in the Inferred category. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 8 ## Classification and evidence **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: The resource estimate is defined as compliant with the 2012 Edition of the JORC Code. Evidence · text > 2012 Edition of the Joint Ore Reserves Committee \(JORC\) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: Mr Luke Timmermans and Mr Shaun Searle are named as Competent Persons responsible for the information. Evidence · text > Mr Luke Timmermans, a Competent Person who is an executive of the Company. Mr Timmermans is a Member of the Australian Institute of Geoscientists **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource table clearly states cut-off grades of 0.5 g/t Au and 1.0 g/t Au. Evidence · table > 0.5g/t Au cut-off Context: Type **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The entire Prospero Gold Resource is reported in the Inferred category. Evidence · table > Total Context: 2,866,000 **All Inferred** Polarity: negative Definition: 100% of resource is Inferred category — very early stage, no engineering confidence. Why it applies: 100% of the reported resource for the Prospero Deposit is in the Inferred category. Evidence · table > Total Context: 2,866,000 **Stale Data Re-release** Polarity: negative Story-specific tag Definition: Historical results re-announced with no new assays or reinterpretation — low genuine novelty. Why it applies: The resource estimate is from February 2026, being re-presented in an October 2026 investor presentation without new data. Evidence · text > REC ASX Announcement 20 February 2026 **Maiden Resource** Polarity: neutral Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component. Why it applies: The resource for Prospero Deposit was initially announced in February 2026, implying it was a maiden estimate at that time. Evidence · text > REC ASX Announcement 20 February 2026 ## Extracted facts Stored fact records: 8. Some facts used in scoring do not have a stored record. ## Resource Estimates (8) ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-0) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:ca3f595ccb0535d7578c - Deposit or zone: Oxide #### Resource Data - Category: inferred - Tonnes: 1524000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 50200 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of an existing JORC-compliant Inferred gold resource for the Oxide domain with a 0.5 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.00 Context: 1,524,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-1) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:e37153b89a429074a617 - Deposit or zone: Transitional #### Resource Data - Category: inferred - Tonnes: 767000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 25400 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of an existing JORC-compliant Inferred gold resource for the Transitional domain with a 0.5 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.00 Context: 767,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-2) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:ff8cd2c7204d73a185bc - Deposit or zone: Fresh #### Resource Data - Category: inferred - Tonnes: 576000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 18900 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of an existing JORC-compliant Inferred gold resource for the Fresh domain with a 0.5 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.00 Context: 576,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-3) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:ea9c694385c468febf39 - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 2866000 - Grade: 1 - Grade Unit: g/t - Contained Metal: 94500 - Contained Unit: oz - Cutoff Grade: 0.5 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of the total JORC-compliant Inferred gold resource with a 0.5 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.00 Context: 2,866,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-4) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:a012672398fa908284bc - Deposit or zone: Oxide #### Resource Data - Category: inferred - Tonnes: 609000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 27900 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of an existing JORC-compliant Inferred gold resource for the Oxide domain with a 1.0 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.40 Context: 609,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-5) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:cf5e3668400077a77cd7 - Deposit or zone: Transitional #### Resource Data - Category: inferred - Tonnes: 287000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 13300 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of an existing JORC-compliant Inferred gold resource for the Transitional domain with a 1.0 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.40 Context: 287,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-6) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:cdd2a429dfeadfd7f40f - Deposit or zone: Fresh #### Resource Data - Category: inferred - Tonnes: 200000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 9000 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of an existing JORC-compliant Inferred gold resource for the Fresh domain with a 1.0 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.40 Context: 200,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/rec-investor-presentation-nwr-investor-lunch--f1eb1305-483f-4d83-83b9-c83d6c3a724e#fact-resource-facts-7) Prospero Deposit · gold Historical result Needs review: historical\_restatement #### Identity - Project: Prospero Deposit - Commodity: gold - Region: eastern goldfields, wa - Reported Region: Eastern Goldfields, WA - Ticker: REC #### Resource scope - Estimate type: resource - Reporting standards: jorc - QP Signed: Yes - Qualified person names: Luke Timmermans, Shaun Searle - Resource group id: resource:76c64beee44d2993562e - Deposit or zone: Total #### Resource Data - Category: inferred - Tonnes: 1096000 - Grade: 1.4 - Grade Unit: g/t - Contained Metal: 50100 - Contained Unit: oz - Cutoff Grade: 1 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-02-20 #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2026-02-20T00:00:00.000Z #### Dates - Event date: 2026-10-07T00:00:00.000Z Reasoning: Re-statement of the total JORC-compliant Inferred gold resource with a 1.0 g/t Au cut-off. - Positive factor: JORC Compliant - Positive factor: QP/CP Signed - Positive factor: Cut-off Disclosed - Negative factor: All Inferred - Negative factor: Stale Data Re-release Evidence · table > 1.40 Context: 1,096,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **JORC Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with JORC Code \(Australia\) — high reporting standard. Why it applies: reporting\_standards includes jorc ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.