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Very interesting day on Friday. Clear effort to push shareholders into accelerated selling. As many have already pointed out it was near impossible however to buy on the dip and to pick up any size you literally had to be part of the move to push the spread upwards.
Will be interesting to see if this tactic is executed again in June or if events on the ground overtake and we convincingly push through the 6p.
Did I top up sub 5p? No, but I did buy 20k shares at 5p. That's all those snakes mm's would let me buy...
If you sold today and contributed to the drop - I thank you from the bottom of my heart.
Korriban
just seems to typical market we are in lazy MMs not letting the share go up as it should have done already. then let is go up a small amount and then push it down futher.... rinsing the punters basically
same thing on KOD of late as well :(
not selling or buying come on BRES true market value please
Have to say I did take advantage of the dip and topped up
People need to learn how to read an rns properly & understand how MM's play their games. People sold & this was 12% down when I work up (late might I add at midday or round about) now it's only 6% down. No doubt these people sold for a loss & will repeat this elsewhere or buy back in here at a higher SP than they had before. I've held it's been up above 6p down to 4.5p & back to attacking 6p this is what markets do.
The same pathetic fear / greed we see in many shares now... MMs push down and them lemmings sell... people are me are no buying any more shares.. pure stupidty
Spoke to CEO this morning
Regarding the prospectus it'll come when required, the fund who are going to invest are completing DD and Blencowe will bring them in when they and Blencowe are ready - this is the only need for the prospectus as it brings them in over a certain threshold. Mike also wants them at the right price ie higher.
Mike says he doesn't understand why the market is dwelling on this right now as they have plenty of cash and have another tranche coming from DFC shortly (I should imagine on completion of test work milestone)
The MM's have played this today clearly as they still won't let you buy any meaningful amount sub 5p!
Interesting reactions and views on the update. Clearly, the bears have it today.
Will be interested to to see if we settle below 5p.
I must admit the underlying tone was not quite as positive as more recent RNS'.
The market reaction for me is a realisation that Bres need to raise a further c$7m to be able to complete the DFS over the next 6 months. $2.5m was supposed to come from a SI but that has seemingly gone a bit quiet. Even if this is forthcoming it still leaves a gap of $4.5m so where is this coming from and at what price.
Mike has not really put a foot wrong to date but this update did feel a bit thin on the ground re. financing; especially given the 6m or so timelines to complete the DFS.
I think most of us have been burnt along the way with untrustworthy directors of small cap companies (particularly on AIM), BRES being on the main list obviously has to jump through a few more hoops with the regulator and the DFC involvement would surely add another complication. I am a little disappointed that Mike and Co haven't got this over the line by now, but at the moment based on their track record i'm willing to give them the benefit of the doubt.
In the world we live in at present nothing is simple and nothing happens quickly, If Mike hadn't put a self imposed expectation timeline on the prospectus none of us would be concerned with a delay as we are still getting good news updates coming from the company.
My experience with micro caps tells me don't trust anything they say but my experience with Bres and mike has been nothing reassuring and exemplary for a micro cap....
Sub 5p maybe.....one can dream.
STM - lots of other stuff in the report has also been RNS'd in the past, so that's not really any good reason. Financing is one of the key aspects of these reports, and normally, if they have sorted out strategic investment, it's one of the things to advertise and 'boast' about in the report i.e bang the drum. Just like he has done by referencing the DFC. If you don't follow Bres, then you are left thinking it is running out of cash on reading this report, so its and own goal from that pov as well. Can't complain about a subdued market if your own reports can't even get across your financial position. All imo
Why omit it? - because it's been RNS'd in the past and there's nothing more to add at the moment? - i.e. it's still toing and froing with the regulator (who let's face it are sloth like)?
Come on, PaulFG. 4 months and counting?
Really?
Bres is as uncomplicated a corporate entity as you could hope for. And the LSE isn't exactly working overtime, inundated with IPOs.
Why is it that shareholders are never encouraged to raise any negative on these BBs without facing a barrage of indignation, or worse?
First thing I also noticed was no mention of the strategic and African investors and waiting on Prospectus. Why omit that?
Get a grip
Frankly, I've never known a company to complete the prospectus within investors' desired timeline.
Causing suspicion & doubt? Really?
hmm...
I've never known something like this take so long, causing suspicion and doubt. It should be a priority to get sorted, no money, no company and certainly no dfs. Its been 4 months, absolute joke.
Let's just say I hope I'm wrong. OK?
I think Mike has earned the right to be trusted, not subjected to conspiracy theories
Well that reference was over a month ago now, making it 4 months since it was RNSd.
Something fishy about the lack of progress with that 50mn share subscription and the prospectus.
True CT, but it’s not something which would need to be mentioned in this document and Mike did confirm in interview just a few weeks ago that that investment is still happening so I personally think that should be accepted as accurate
No mention of the prospectus and our Saudi investor in the half year report ....
#BRES Processing of the 600t commercial scale sample will complete by end of June
Small flake concentrate will then be upgraded to 99.95% by a top Chinese SPG producer & distributed to tier-1 buyers & OEMs
We look forward to updating on our 600t testing & further on offtakes
https://x.com/blencoweres/status/1801502210041299144?s=46&t=EvXh7V_bl0KSecPP7wKHJg
LW - point taken on CMET, but you gotta take each situation on case by case basis, taking into account many variables. In the case of CMET I simply do not trust them, as you know.