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Perhaps BRES should look to trade on the OTC markets like HE1 has just done. I can see them getting much support from US investors and it will open up alternative options to raise money.
The CEO of their main broker buying stock on the open market says a lot to me. I would guess he sees the SP being higher from here. So long as the SP rises, any dilution means Absolutely zero to existing shareholders. Yes your %holding will drop but unless they are providing dividends it really does not make a difference. I can’t see them doing any capital raise for less than the current SP and quite possibly could raise money at a premium to the SP. Only way for this is up in my view.
GLA
This company really needs some good news soon or do something. OR we going down to the 5p soon...
There's some serious selling going on here, no matter how much insiders buy.
Forgot to post link! https://us02web.zoom.us/webinar/register/WN_rKWakxGxQBONys_xiR-xeg
Which I have just signed on to, it is Monday at 12pm
That would be very guesstimate as they have yet to do the PEA surely? Good question to ask on the upcoming call
The Align research report gave a 19p target based on 25000t/pa of concentrate from 800000t/pa of raw material.
That’s a GC of 3.1% so very conservative.
Given they have realised a GC of 6% doesn’t that mean they get 50000T/pa from the same 800000T of material. I.e the plant will produce twice as much graphite For the same capital cost and plant capacity!
When (and it is when) they include the camp lode and get to 8% then the production will be 250% the original estimate. So given the report based on 25ktpa was 19p. To me that means the new figure at 6%gc is 32p and 47.5p at 8%gc
Or have I missed something here?
Time for a re-rating and new research paper...
Holding tight as I think this half hearted MM driven drop is just to let people in cheap.
GLA
Benchmark Minerals Intelligence and the CompanyAll this will be evaluated during the PFS. At this stage, given the low strip ratio and the free digging material(itis clay not hard rock),it has beensuggested that costsare expected to be low,with total operating coststargetingUS$300-350/t range. This would includethe cost of trucking the concentrate to Mombasaport in Kenya. Mining saprolite negates the need for primary crushing and a grinding circuit hence lower capital expenditure to get into production.An 800,000tpa plant and all associated infrastructure to complete a working mine of this initial size havebeen estimated at a ballpark capex figure of US$30 million.
a 800,000 TPA plant is about 50k ton graphite a year at 6% graphite content think there looking at 25Kton a year so ild imagine the plant will be designed on a modular basis with more being built as required 1 plant=25kton 2 plant=50kton etc
http://www.alignresearch.co.uk/wp-content/uploads/2020/11/Blencowe-Update-5-Nov-2020.pdf
I seem to remember $30-$50 million being mentioned but I may be wrong.
Sturdz- very plausible as I’ll admit I was doing exactly that- holding on until JORC with the plan to derisk by selling a third or so of my holding at anything over 9 or 10p (if had started rising I would have got greedy I suspect). As it was it began to drop so I settled for selling 15% at around 8p but got NT. by the time I could trade I found the price had gone so low it was no longer a sell and actually hovered over the buy button a few times this afternoon!
As you say - there were probably plenty of PIs like me with the same transparent plan. Anyone selling now either has a desperate need for cash or a knife incredible alternative... this is fantastic value at anything sub 10p and even though I would sell a portion at circa 10p that would be me rebalancing rather than exiting.
GLA
Looking at the training pattern through the day, I think there was a few traders who were in this expecting a big rise when the JORC was released. After a muted response this morning they sold up.
I wouldn't be surprised if there's a delayed reaction though. They have a monster resource of which the JORC just scratches the surface. The company have also proven that they do what they say they'll do - delivered a full drill programme and JORC in the midst of COVID.
Can see this trading between 8p and 10p until the metallurgic results are released.
I guess the market was expecting higher TGC%.
The co themselves previously suggested a number of 7-8%