Member Info for B_Positive

8% TR1

+

Project a few KM away just sold for $7.7BILLION!

Wishbone gold £70m market cap peak with poor grades at one 1 project.

CDL has 3 projects all with sublime grading in the samples, legit world class.

Get to £100mcap and it's at 10p a share and topple that to beat all time highs.

CDLs gold assets borders the following in Australia and are literally a stones throw away.

Vault Minerals on the ASX / Ticker: VAU. Market Cap = $5BILLION. Search them up. Just sold for $7.7BILLION.

Northern Star Resources / Ticker: NST. Market Cap = $ $33BILLION. Search them up.

Colin said on the Roast last it was the next to gain market traction he thinks.

Those warrants were set at a 200% premium to to the raise price which tells you where this is going.

Everything you said below sounds very conservative as well going by the numbers others have crunched.

I think the MCAP has to go to to between £60 & £90m - given how close production is this is a unique situation for a mining explorer / junior.

With no barriers to drawdown and only £7m Capex needed, oncethis RNS drops, it fundamentelly tells us barring machinery breakdowns there is nothing else to stop us being a $40m profit revenue producer for the next 7.5 years before we move t0 $300m in Phase 2

0.35 + once this drops. no one will see the 0.2s a couple of days after this fiance hits.

We break ground in a few weeks.....

Game on

Thanks that sounds excellent and echoes his very bullish sentiment and what he said on the Roast last week.

If this finance drops tomorrows, then can see a scenario in which everyone is chasing this to 0.20 and then it just keeps going.

0.65p for just a £150mcap which values it at 4-5x the revenue project.

INVESTMENT THESIS & ASYMMETRY

Conviction Level: High. The sevenfold increase in open-pittable tonnes is a “company-maker” event that de-risks the $7m debt-funding which is at an advanced stage.

Asymmetry: Strongly positive. Downside is protected by “Measured” status ore and a 15-year mining licence. Upside is geared to the 2026 copper price surge.

Catalysts: * Statutory approvals for the Phase 2 flotation plant.

Commissioning of the upgraded Phase 1 plant (H2 2026).

Conversion of the 3.6Mt inventory into JORC Resources.

The Upside

We can see the above study shows a base case IRR of 62% and $46.2m NPV at a 10% discount rate. A net profit of $103.9m before discount.

There are multiple changes though since that study which the market hasn’t understood. Let’s explain those.

The price per unit of Copper, Gold, Silver increased and the resulting Revenue per tonne increased.

There is a reduced Opex cost of reduced stripping. Even assuming a net 15% increase (not decrease) of cost the estimated EBITDA per tonne of ore has more than doubled.

The open pit resource has increased 7X.

The pit shell estimate has increased to 4.9m tonnes.

According to my calculations the EBITDA total has more than tripled.

But back in October 2025 when BZT was (also) 0.08p they:

Had not acquired NLZM so had no processing plant.

Owned 70% of Hope & Gorob not 90%

Had no Feasibility Study yet

Had no 7X measured resource in the open pit

Had no contractor EPC agreement with Unitrans

Had no “advanced talks”* for a $7m financing facility for Hope & Gorob

Were awaiting “Licence Renewal” and “Environmental Clearance Certificate”

Had no recent Director buys by Colin Bird (£40k/50m shares bought)

* The current position is: “the financier has completed their technical and financial due diligence in relation to providing a US$7M financing facility for the Hope & Gorob project and we are now in the advanced stages in relation to the financing documentation, which we anticipate completing over the coming weeks.”

Https://theoakbloke.substack.com/p/land-of-hope-and-gorob-bezant-re?triedRedirect=true

The Upside

We can see the above study shows a base case IRR of 62% and $46.2m NPV at a 10% discount rate. A net profit of $103.9m before discount.

There are multiple changes though since that study which the market hasn’t understood. Let’s explain those.

The price per unit of Copper, Gold, Silver increased and the resulting Revenue per tonne increased.

There is a reduced Opex cost of reduced stripping. Even assuming a net 15% increase (not decrease) of cost the estimated EBITDA per tonne of ore has more than doubled.

The open pit resource has increased 7X.

The pit shell estimate has increased to 4.9m tonnes.

***DO NOT FALL OFF YOUR CHAIR***

According to my calculations the EBITDA total has more than tripled.

£150mcap or about 0.65p in the run up to production. If the finance approval is announced this week its going to move at an insane speed

This time with a proper plant!

Thanks Birdy

What's also excellent is that whilst we've been waiting for the big RNS, this company has increased ownership from 70% > 90% of the copper mine AND massive grown the resource and improved project economics tremendously.

Both increasing the enormous upside even more.

Highlights

· A sevenfold increase in the Hope open pittable Mineral Resource from 0.41Mt (2023 estimate) to more than 3.0Mt (gross)

· Hope open pit immediate life of mine increasing from 1 year to 7.5 years at a production rate of 0.4Mt per annum feed rate into the ore sorter

· Reduction in strip ratio from 11:1 to 9:1 with a material reduction in mining costs

· Additional 3.6Mt of mineralisation identified in inventory that remain as potential to be upgraded to add to the Mineral Resource

· A further 1.3Mt of low-grade material (0.3 to 0.5% Cu) occurring within the pit shell but excluded from the 2026 Mineral Resource can be upgraded through the on-site ore sorter and will add to annual production

· At current planned mining rates, the operation will every 24 months generate an additional year of high-grade stockpiled pre-concentrate for final processing

· Significant mineralisation occurs outside of the current pit shell which has not been included in the 2026 Resource Estimate which may be convertible to Mineral Resources with additional drilling. In-house estimates suggest a further minimum 5 years of open pittable production could be added.

Can't go wrong with lithium and copper

Both 20bagger potential

Excellent digging over the long weekend from many here finding the satelite photos which show significant ground works at the mine site + the hiring of page.

Feel like the next RNS is going to be for the financing completion as Colin stated it is very close in this just over a week ago:

https://audioboom.com/posts/8904412-sunday-roast-featuring-paul-welch-from-buccaneer-energy-and-colin-bird-from-kendrick-resources-b

£150mcap or around 0.65p warranted quite quickly from my estimates.

£150mcap about 0.65p a share I think. Long ways up from here.

But as KEN shows it can pull off such a rerate in literally just a few weeks of trading.

One RNS here which may be the next one can start it

BZT still trading at basecamp, but KEN still has tremendous legs I feel

Onwards and upwards

Dilution to existing holders, but provides a potentially great entry point for new investors