Member Info for FortunaFavet

Yeah, not much has changed in the world since before Christmas... Personally I hope they build, execute well and sell in 2028 for EDIBTA multiples, but the logic for an earlier acquisition increases

Oh and anyone selling prior to an acquisition could be missing the LSE multi-bag of the year (IMHO/DYOR), but we all make our own choices...

Anyone who's not holding BRES until Q2/Q3 is essentially exiting before the Value Inflection Point. With the JORC upgrades due H1 and the move toward a binding funding solution (likely involving a Strategic Partner), the NPV/Market Cap delta is currently too wide to ignore. Day trading is a different game, but for those of us tracking the fully diluted share count vs a possible $1.5B NPV, the mid-term is where the real re-rating lives...

"The Iyan deposit continues to show what you want to see in a scalable graphite project: consistency, thickness and mineralisation from surface. Maiden JORC close. Beehive next. Orom-Cross is evolving into a genuine multi-deposit resource."

Today’s drift ignores the evolution into a multi-deposit powerhouse! With high-grade mineralisation from surface (the holy grail for OPEX) and imminent resource-doubling, the strategic value here is surging. Backed by US Project Vault’s mandate for non-Chinese supply, this month’s transformation into a de-risked, funded producer-in-waiting creates a significant valuation gap...

​"The market is a device for transferring money from the impatient to the patient"

46.7M shares traded last week. Held strong during a global panic. The order book isn't allowing a retrace to 10p. If you're getting back in Humbo, just pay up. I don't fancy your chances for timing this much better, and your comments on here are likely having zero impact on the price. 11p might not be around for long buddy. Good luck

Thanks for your wisdom mate, I'll sell up

My take is that this particular JORC is not just geological, it's the penultimate necessary step before binding funding can be signed, it's about timing and derisking not just counting more graphite. It gives lenders the reserve certainty they require and it trims the risk discount by *confirming* the project as an evergreen strategic asset. It is likely to materially impact the NPV based on the higher grade flake distribution we've seen, so the new tonnage and grade will also increase operating margin per tonne... For me, it's big news

It's a guess, but when management officially states that drill assays are complete and the JORC is "imminent," a timeline stretching to mid-April might be procedurally illogical? I'll be surprised if it doesn't land by the end of next week, with Tues or Weds being most likely/optimal, but as you say we just have to wait and see! What a great week we've had

We ought to see volume increase and the spread tighten into the close if investors want to lock in their positions before risking a likely gap-up on news Monday morning...

Hey Humbo. Interesting points, but 1990s tropes don't account for modern de-risking. BRES isn't an isolated explorer, it’s a US-backed strategic asset. The DFC’s $5M grant followed years of land-title and social audits to meet strict IFC standards - they don't fund projects with messy 'induna' risks. And any reasonable investor is expecting the Ugandan Gov as a 15% partner (management have more than proven they're smart enough to understand the importance of this). The community is locked in via revenue-linked social projects, I'm sure you've researched this. Yesterday's volume shows the Big Money has already done the math on these risks. I’m happy holding for the terminal re-rating. But you did well on your sale, profit's profit :)

OC - I think those numbers are a starting point but there is some further PLC dilution and project equity to consider. Personally I think BRES' stake will be approx 60% of the project after binding terms. And 585M TVR after warrants and options. Then there's the authority to allot 200M approved yesterday (which doesn't mean all will be used) but let's assume, once a strategic partner is on-boarded with a toe hold in the company, full dilution may = 750M shares. 35p to 55p is perhaps more realistic based on your numbers, but crucially they don't account for an increased NPV and updated economics of the project.. so perhaps they represent a conservative floor?

IMO BRES has outgrown ramping/de-ramping on BBs.. 12M volume makes anything said on here a drop in the ocean... Anyone buying/selling based on comments here hasn't done their own research and if they're shaken out, that's perhaps for the best. Any ramping/de-ramping at this stage is just revealing agendas/conviction/sentiment, but not in a way that has any material impact...

I bought my first shares in November when I was scanning for stocks with upcoming catalysts, when the DFS economics surpassed expectations I began staged buying to build up to my 200,000 at 7.65p. I'm comfortable here, and delighted to have found this! I think Mike and the team are solid and the discount has been so difficult to fathom, but I guess it was trapped under both the warrant overhang and the sub-£50M mcap at exactly the right time for my entry. I think the discount is correcting in front of our eyes, and once funding becomes binding, we're on our way to some serious gains. I always thought I would top-slice my initial stake at 30p but my conviction and the resource+quality just keeps growing, so I may hold the lot for an eventual acquisition. Good luck all

Institutionally eligible and transaction ready... Saving the Iyan JORC for another Momentum Monday? Today's volume shaking out weak hands is exactly what I wanted to see. Welcome to New BRES. A completely different beast to Old BRES! GLA :)

Translation: BRES is soaring toward 12.34p with no one waiting to sell. It’s beating everyone. Watch for turns (only relevant for short term traders). Nice to read the technical analysis but as a strong-hand holding for a future acquisition I'm not watching for turns with even an ounce of concern. Onwards and upwards

5 and 6, not 4 and 5...

Resolutions 4 (authority to allot) and 5 (disapplying pre-empting rights) look like a huge de-risking event to get the funding solution over the line in the coming weeks. A mandate specifically designed to facilitate a Strategic Partner (enabling skin in the game and/or a warrant sweetener etc)? The value added by a new partner's financial backing will far far outweigh the percentage of the company given away. Loading such authority now is a significant move of strength satisfying institutional due diligence and ensuring the legal infrastructure required to sign a sophisticated, multi-layered funding package is firmly in place. It might be nice to kick-off proceedings with the Iyan JORC tomorrow AM too (??) especially now we've closed above the £50M mcap threshold... Audited. Authorized. Liquid = let's welcome the institutions aboard.

Adding years adds little value due to discounting. But Iyan and Beehive change early QUALITY. The Dec 2025 DFS used 5% grades whereas Iyan hits 10%+. High-grade ore means processing half the rock for the same output, slashing early costs by 50%. Since these savings occur immediately (not in Year 40) they aren’t discounted away. This front-loads the profit, causing the NPV to balloon. Combined with US tariffs, it fundamentally re-rates the project’s immediate IRR and strategic value...

BRES is currently a massive math error. The December DFS is already obsolete. Following the Iyan results, we’re moving from 5% head grades to world-class 10-14% TGC from surface. That’s a 50% reduction in processing costs per tonne of concentrate! Pair that margin explosion with the 160% US tariff firewall on Chinese graphite and the $1.1B NPV is now the floor. As the value gap closes toward a $1.5B scenario (mathematically conservative?) 10p becomes a distant memory. This isn't just a discovery, it’s a real structural pricing advantage. Institutional floodgates open as soon as the Iyan JORC lands. Don’t miss the re-rating. Oh and then there's the small matter of an approaching funding announcement and Beehive JORC coming in Q2. I still can't get my head around how far this thing could run from here!

Absolutely right Ifg! Whilst Orom-Cross will not dwarf the established African producers (in Mozambique and Tanzania) in terms of immediate volume, it's likely to become one of the world's most stable, low-cost, and green sources of graphite. Phase 2 expansion (targeting 70,000 tonnes of concentrate and 20,000 tonnes of UPSG) will make it a central player in the global BESS supply chain by 2028-2030.