Member Info for Computer909

No brainer for him taking these at 6p, although last few weeks performance hasn’t been good, we assume news next week should at least halt the slide, if the warrant vultures give it a rest that is !

It’s also dropping because the warrant gouging is still going on and the rest of the market is a little nervous to pick up the slack.

Could have done with some news to offset the effect today, but looks like next week now, if the assay labs pull their thumbs out of their arses

You will have to wait for the June block listing update in order to get an accurate update of exercised and outstanding warrants

These results will clearly be outstanding, but I do wish Mike and Co would refrain from using “shortly” or “imminent” regarding news which relies on third parties. The assay lab has been frightenly slow in turning around these results and clearly unreliable in agreeing timelines, rather just deliver the news when it’s available that build up and be disappointed by delays.

Not really a “Long Term” incentive plan as we hope that 50% will vest within weeks, Good that the BoD are increasing their holdings with every turn, mean their incentive should be aligned with other shareholders.

Clear indication that P1 funding is all but in the bag now, expecting the remaking 50% to be issued on project sale rather than any other development.

P1 funding and a strong project sale should see us past £100M mcap by the end of the year

More excellent news from BRES, and yet we are still haunted by the warrant sellers!, those are overshadowing every single bit of positive news, it will take financing to see them off once and for all, which can’t come soon enough

Taking the monthly spend from a year which the company did and achieved massive programs of work, Drilling, Bulk testing, DFS completion and extrapolating that into ongoing expense rates is frankly ludicrous. We don’t really have many major spending needs on the horizon other that a few flights for Mike and Co to jet around discussing finances.

We have enough cash to ride out until finance is agreed., and even if we do need more cash the company has recently demonstrated the market is willing to pay the market price without discount or warrants.

For retail investors “ dilution” is somewhat irrelevant, very few care if they own 0.01% of the company or 0.001% of the company, it’s the Shareprice that is key, Strategic investment at market price has an affect on MCAP but not Shareprice.

If you study Mikes comments over the last year or so regarding funding there has been subtle changes that hint to the direction this is going. Originally it was funding by the end of 2026, DFC would take too long for P1 so they were looking at the AFC with DFC involved with P2 and beyond, then it changes to funding in Q1 2026 and DFC involved from P1 onwards, you have to think this is because the DFC are now full steam ahead on securing critical mineral supply lines and they are getting their cheque books out at a much quicker rate.

Again not long to wait, but that being said missing the self imposed deadline of Q1 for funding updates could now be embarrassing for Mike and Co.

And ok my god this warrant drift is killing us !

"The "Inside Information" Silence"

Not sure that is a reasonable or true assessment of the situation, in the last 15 months the BoD have constantly opened their own wallets and increased their holdings.

15/4/25 - Iain Wearing - £50K

6/11/24 - Ian Wearing - £250K

6/11/24 - Joel Chong - £250K

12/9/25 - BoD - £100K

2/12/25 - Cameron Pearce - £100K

2/12/25 - Mike Ralston - £140K

Along with performance awards and existing holdings the BoD and other insiders have quite a bit of skin in this game.

Mike originally stated that financing would basically take the whole of 2026, it was only towards the end of 2025 that the “financing done in Q1 2026” statements began, we have to believe that the team were confident they could get it sorted in those timelines before changing that narrative.

As the price action today would seem to indicate, it’s clear that assay results won’t move the market, it needs financing or at least a high profile offtakes agreement.

We hold for gold for a couple of months

“boring chat about warrants, which have contributed to us sitting on 4-5m as funding talks progress”

We could point to the warrants holding the MCAP below £50m , a key threshold to unlock access to institutional investors.

So as with everything there is two sides to each coin

Surely if the discussion here is so Boring for you, you don’t need to stay here?

You should move to the Telegram group where they do nothing but shake the rattle and will have no one discussing any concerns or issues,

Anyone is allowed to voice their opinions, we aren’t living in Russia or China yet!

Unfortunately those two fund raises (November 2024 and April 2025) have turned out to be the only missteps the BoD of BRES have taken, for 2025 they were forced into a raise by the DFC pause (alternative would have been to stall the project progress) but were forced to raise at frustratingly low levels and to issue masses of warrants at worryingly low levels, but as I said the alternative was delaying progress, so we are ware we are and have to deal with the warrants as best we can.

I do hope that Mike and Co have now learned some hard lessons around financing which they are taking into negotiations, the latest £3m no warrant/no discount raise should improve their position somewhat, but it’s just a case of waiting for the outcome.

Could they have treated retail investors better, probably, but the market price did drop below the placing price which enabled a low entry, so it’s not really an issue the retail offer closed so quickly, would all of us that took place in those placing love to be sat on cheap warrants, sure but very few companies offer retail investors warrants do to the complexity of managing them, so we are where we are and looking forward to the warrant churn being done and BRES surging forward to true value, which will come at the first sniff of project finance arriving.

P1 funding will be transformative for BRES ( and the Shareprice), will de-risk the investment and allow the move to producer from prospectors, it will also mean we can start moving the non-binding offtakes to fully binding and start to confirm what the revenue streams are going to be in the first phase,

The ideal outcome for me will be full project based, non corporate dilution, because I think BRES will look to sell the project post P1 production, and would want the lowest amount of BRES shares in issue so the distribution of the cash to shareholders via a special dividend to be just that “Special”

Unfortunately the warrant issue means the company has lost all control of the Shareprice action, whatever they release has been overwhelmingly positive but the warrant overhang and the fact the warrant holders are so keen to exercise at these levels is causing a constant drag.

At least they have learned their lesson and the latest raise didn’t involve any warrants, but some serious damage to the Shareprice momentum has already been done previously.

Financing updates are what is needed now and sooner rather that later, more assay results won’t have any affect ( we already know the project quality is outstanding), more non binding offtakes may shift the needle a little ( Unless it’s Tesla shifting to BRES that is!) so it’s financing we need.

Or a premium buyout of course, that would be ok as well something around £150m wouldn’t be expensive

Just when you thought this POS couldn't get any worse, this RNS arrives and i am struggling to believe my eyes.

Why on earth would any investors accept this level of dilution and financing discount, on top of Palumbo's 99.99% destruction of the company value already.

And as for giving Palumbo incentive options, that guy should be in prison not receiving a pat on the back.

Why would you even try to roll a Gold /Copper exploration business into this POS when it has zero good will, is ladened with debt and has failed to make a single penny profit in over 20 years.

This is the latest stage in the Palumbo scam and retail investors should avoid like the plague, before they are taken for mugs once again.

As the saying goes,

Fool me once, Shame on you

Fool me twice, shame on me.

Avoid, Avoid, Avoid !!!!

I would think most people that have invested in Eqtec along the line would like to “forget”, but will be haunted by the experience for their whole lies.

Palumbo and Co have sucked the life out of this company for years, we are now witnessing the final death of a company that has existed for nearly two decades and never made a single penny profit

This shambles has survived off the back of shareholders that have been continuously lied to and misled, Palumbo and Co should be in Prison not sunning themselves in Dubai. It’s the likes of Palumbo’s that have destroyed the reputation of AIM, exploiting the lack of regulation and the incompetence of the regulators in order to rob shareholders.

The sooner the end comes and this pile of crap is consigned to history the better for all concerned

There are a lot of things that need to be washed out before BRES achieves a true value, there are the consequences of all the financial hoops Mike and Co. have had to jump through to get us to this point, whether that’s discount placing, and warrants or paying suppliers with equity, that all needs washing through before the sp gains momentum, did anyone really think we would move from 3p to 30p in a matter of months, this is a marathon not a sprint.

What we need to remember is the quality of the project, and be confident the company value will be much further along in the next 3-6 months.

Yes it’s annoying that the downward pressure on the SP has put us back down here but unless we have all been misled about the market demand for critical minerals and the quality of Orom cross sooner or later the two will come together and we should see considerable reward for sticking it out.

"The only risk remaining is funding "

I think todays news of the CEO and Chairman putting more of their own cash into equity makes it clear how much they think funding is a 'risk', They clearly have a plan to secure non dilutive funding in Q1 2026 and clearly expect the shareprice to be well beyond their exercise level and not languishing as we are around 8p

Just a case of sitting tight and riding the wave now, All the information you needed to assess risk was in the DFS values. and the fact that the have offtake already agreed for all of Phase 1