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@Element25Ltd (
#ASX:
#E25) is rated BUY by Petra Capital with a $1.73 price target, implying ~𝟰𝟱𝟴% 𝘂𝗽𝘀𝗶𝗱𝗲 𝘁𝗼 𝘁𝗵𝗲 𝗰𝘂𝗿𝗿𝗲𝗻𝘁 𝘀𝗵𝗮𝗿𝗲 𝗽𝗿𝗶𝗰𝗲 𝗼𝗳 $𝟬.𝟯𝟭. Petra highlights that the company is progressing toward development at its 100%-owned, fully permitted Butcherbird
#Manganese Project, with engineering work advancing, long lead items being ordered and key contracts under negotiation. Subject to funding and a final investment decision, E25 is targeting first production in March 2027.
The report notes ongoing discussions to finalise offtake for 1.1Mtpa of manganese concentrate, with Petra pointing to the product’s quality as a key advantage for smelters. With most of the funding already secured and only around $20M remaining, the company is nearing a key inflection point.
Petra also sees broader support from the market, noting that “declining supply and strong demand set to lift manganese prices”, particularly as battery chemistries increasingly incorporate manganese, positioning Butcherbird to benefit as the market strengthens.
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