RE: Warrants!9 Dec 2025 18:18
Gulliver, a giant of unimaginable scale, lies washed upon the shore. Not defeated. Not broken. Simply… temporarily pinned. Dozens of tiny ropes hold down his arms, his legs, even a few strands across his hair. Ropes so frail that any one of them would snap with the faintest stretch. Yet together they create the illusion of restraint.
Blencowe finds itself in much the same position.
A company with a billion-dollar DFS, a sovereign-level strategic commodity, a rare seat at the development finance table, and a processing strategy designed to break China’s monopoly is, for the moment, lying still at 7–8p. And the market, with its short-term imagination, mistakes stillness for weakness.
Look closer.
The ropes are trivial:
a few stale sellers leaking out, warrant exercises dripped in teaspoons, thin liquidity, and an investor base waiting for the next page to turn. None of these things speak to the strength or the destiny of the asset. They are merely the Lilliputians tugging at threads, thinking themselves significant.
But giants rise when it suits them.
What happens the moment the company stands?
When funding for Phase 1 is confirmed.
When Phase 2 is pulled forward.
When the world finally notes that this is not another exploration outfit but a critical-minerals supplier with offtakes forming, engineering complete, and global financiers circling?
The ropes go slack.
The tiny figures scatter.
And the giant takes a single step forward that covers miles.
The current price action is just the beach scene before the awakening.
It will not last, because it cannot last. There is too much mass, too much momentum, too much structural value pressing upward for long.
The Lilliputians can enjoy their brief moment.
Soon enough, the giant will remember its size