Member Info for 99icecream

Infill drilling at Beehive and Lyan

IMHO - We should not forget the funding required for the infill drilling at Beehive and Lyan (as I understand they are now called). This drilling (planned for 2026) will further expand the Reserve substantially (and consequently extend the DFC beyond the 15 years and increase the IRR). With the DFC having been very keen to fund the initial drilling at Beehive and Lyan, it seems obvious to me at least that they will (soon) advance further funds to compete this work.

From:- luminate works - "A refreshed brand identity and website for Zanaga Iron Ore Company"

"We began our creative process with a contemporary brand identity to better represent Zanaga as they go through their own transition into a world-class iron ore development company. We narrowed down a variety of different concepts before settling on a progressive and bold logo and colourway, complimented by aspirational and descriptive imagery."

My point is that they might easily want to raise anther £10 million or so to fund the scale up of production, you can regard the warrant as a small part of this fund raise already done (approx £2.4 million vs 1.1 billion shares).

If KZG gets the 2A mining right the share price will rise significantly, however there will need to be funds raised to pay for more equipment to scale up production. The outstanding warrants (approx 2.4 million vs 1.1 billion shares or 0.2%) will be trivial in comparison.

It was a 750,000 buy and a 750,000 sell in the 11am Auction

BRES only need one credible new investor to declare an interest (i.e. over 3%) and the shares will revalue. I'm thinking of someone with a track record in mining / mining investment (such as Mick Davis -https://www.vision-blue.com/about/ ).

Fairy obvious to me (after being invested for 8 years now), that next year will be transformational for ZIOC.

From KZG's view, they raised (in the 10 Nov 25 deal) £1.3 million, if the share price rises sufficiently, they will additionally raise £3.25 million within 12 months.

Panda1 - Its the same deal as the £1.3 million raise 10 November 2025. This is a rare thing, PI's usually get the offer of shares at the same price as the large investors, but we don't get the warrants. Perhaps the reason that the large investors would accept the offer terms is the transformational aspects of the 2A mining rights when they are awarded.

Sorry, it is 68.7% agreed, 31.3% not accounted for.

I make it 31% so far.

I think it may be balls ! - Both types need to be spheronised and coated. Natural graphite (being flat plates) presents more of a challenge in this aspect.

Indeed it does. But Mr Fandango was talking about battery anodes. My understanding is that the battery makers are keen to use the maximum Natural Graphite, they can (without degrading performance).

Mavern - I don't think BRES have claimed that their Graphite could be used alone. See the RNS 30 Jan 2025 "SAFELOOP Update"

"Furthermore, composite anodes produced with Orom-Cross graphite achieved an outstanding 68.4 wt% natural graphite content, one of the highest loadings ever recorded in the battery industry, thus reinforcing its strategic importance in advanced battery applications."

Pierre - That's not news. The batteries use a combination of Synthetic and Natural Graphite. The Natural is cheaper than the synthetic, so you use as much as you can in the mix (without compromising performance). Most batteries have about 20%-30% Natural. However, the quality of the BRES Graphite means you can use over 60% in the mix - so you sell much more and at a premium price.

My guess is that some are selling so they can use the cash to by in the retail offer (shares @ 1.5p plus warrants). If you think the price will be much higher once the 2A Mining Rights are secured, then the retail offer potential gives much higher returns.

On 7th November (when BRES was about 7p), my view was that the BRES stock would not perform ahead of the DFS, essentially because the PI's who are bullish about this stock (like me) had already bought up to their limit when prices were lower (my average is 4p). See below a shortened version.

With JORC and DFS out of way, why are the Broker's not doing their job ?

My view is that the funding announcement is imminent .... and then the fun will begin !

------------------------------------------------------------------------------------------------------

"FWIW - I don't see the share price changing much ahead of the DFS. They key reason is for the share price to rise we need demand from new investors to take up shares being sold from warrants and profit taking.

Once we have the DFS we will have various Brokers publishing their Research and giving their opinion on Valuation / Target prices for the stock. They will also aggressively market this opportunity to their client investors. I would expect several brokers to include BRES in their Top Ten Investment ideas for 2026.

IMHO demand will come mainly from High Net Worth Investors / Family Office types, who will understand the Critical Mineral / High Growth / Uniqueness of the Asset etc."

The Options expire on 15 / 12 / 25, so its logical that 6p options are exercised now, its not the Directors "supporting the company" its them taking the reward for the progress since December 2020.

I think everyone looks at the London Stock Exchange for the market indication, but sometimes its possible to get slightly better dealing prices on the AQSE.

Max19

There are several trades at 1.45 here:

https://www.lse.co.uk/ShareTrades.html?shareprice=KZG.GB.PL&share=Kazera-Global-Plc&trade-date=