Member Info for FortunaFavet

Agee 99. Though NPV is a living number and it could be argued that BRES has already outgrown its December DFS, making $1.087bn a conservative floor (once the funded path to phase 2 is clear)?

Always wise to be cautious! Though comparing BRES to ordinary miners risks missing the bigger picture. Orom-Cross is effectively a Western national security asset now. 99.99% purity (rare ex-China) moves this beyond standard batteries into high-margin defence and nuclear sectors. The DFC isn’t a typical lender and Blencowe aren't cold-calling for cash, they’re working with a sovereign partner amidst evolving US critical mineral laws. With a century-scale LOM (to be confirmed in the JORC upgrade), at a £35m cap the jurisdiction discount is the opportunity. Come the binding funding announcement, everything changes.

Greenland offers longer timelines, different scale, higher capex, massive infrastructure needs and lower profits, whilst not addressing the urgent ex-china imperative for western supply chains. Orom-Cross remains the emergency-response necessity, whilst Greenland offers long-term options and diversification. Two entirely different investment models. I do like the look of GROC for a longer hold, so I've picked up a small position, but BRES is uniquely placed at this juncture.

Https://www.newsnationnow.com/politics/dominance-act-us-energy-security-ami-bera-young-kim/

US Government’s $2.5 billion mandate to bypass China —Did Blencowe’s 99.99% purity just made them the primary target for its 'National Security' funding?

They're not short of newsflow though, with significant near term updates in the pipeline! This technical RNS is exactly what's needed to remind the market that election noise is temporary, but what's in the ground and the structural and geopolitical necessity is here to stay and improving all the time

"Importantly, the Alkeemia process provides a Western, non-Chinese, purification route, utilising a simpler, less toxic, and more cost-effective methodology than conventional acid-based processes widely used in China. This further aligns Orom-Cross with growing European and US policy objectives to establish secure independent, and sustainable critical mineral supply chains."

If you're not a Strong Hand in BRES at this stage, where are you?

Comms blackouts have become an increasingly 'standard' tactic in many African elections

Thurs (election day) could potentially bring some game-changing news. Stage 7 assay results? Iyan/Syncline Link? Funding progress update? I'd be surprised if it's a no-news day, it could perhaps be a significant turning point for the share price? All IMO

Anyone watching Uganda today might reasonably expect a week of volatility. Timeline risk is worth considering if any protests turn particularly violent, dependent on how quickly stability returns. I've got high confidence the DFC will progress funding, possibly with a direct equity stake, possibly without, but it's difficult to gauge how much election noise could wobble the share price and/or delay the DFC's commitment. Much of this may already be priced in, but retail fear can exaggerate price movements. Already at a huge discount, BRES' potential is undeniable, we have seen just the tip of an iceberg in the excellent December DFS and the strategic western imperative for such an asset is compelling. If it's a rough ride this week and next I'm not deterred in the slightest. 2026 is just the start, and a big start, for Orom Cross. I'm happy to continue buying under 8p, if election noise averages down my entry, then I'm grateful for it. But my first wish is for peace, prosperity and stability for all Ugandans.

I expect increasing institutional demand after the Uganda election and Future Minerals Forum (from 15th Jan, which is probably why MR has his Small Cap Picks interview scheduled for this date). Many funds will need to wait for the £50M market cap, which the warrant wall seems to be preventing at the moment, but this is finite. With the JORC Upgrade providing a significant LOM and higher TCG near surface (@Beehive) and the Funding RNS arriving (hopefully) this quarter, I'm anticipating a big breakout and re-rating in the not too distant future. I found MR's December photos of the Truman Building (US State Department) on X interesting. This could be a nod to 'whole of government support' (DoD, DoE etc.) which may unlock further grants, a strategic partner via MSP, gov dep offtakers, direct DFC equity etc. We won't know 'til we know, but I agree with the Strategic National Security Asset narrative given the low capex, the green credentials (hydroelectric power and thermal flow sheet for ex-china USPG) and of course multi-decade supply. It looks pretty special to me

Indeed. Where these holders have been acquiring shares at a discount (4p/6p strike prices) many have been locking in immediate profits, diluting ownership and generating selling pressure. Many see the SP-drag effect of this as a great buy-and-hold opportunity ahead of the upcoming major news flow and re-rating catalysts

Bring on the warrants, it's a good time to get them in the float ahead of the meaningful newsflow and funding announcement. The sooner they're all exercised (or expired) the better. All I'm watching at the moment is daily volume, looking for it remain high whilst the price is steady. Happy to buy the discount whilst the register clears and hold for the cash-flow or buyout phase, hopefully in 2027. GLA

MP, makes sense, thanks!

Just a novice who's watching, learning and reading.. I've not seen it all before, so it's interesting to try and piece things together. I still don't understand the absurd MCAP discount, hence a re-rate at any time 'feels' probable, but understanding why it's capped and what it will take to push through is keeping me engaged at the moment

I was hoping for an early breakout given the ex-China graphite drivers, but realistically we’re still just grinding through supply right now. ​Between the warrants announced today and Friday's performance shares, the market is absorbing 13M new admissions this week. We also have the mid-January election acting as a natural pause button. It makes sense that larger buyers are waiting for that de-risking event before stepping in. ​January could be a dull slog, but it helps to have these warrants exercised and the register cleared at 7.5-8p rather than capping a future rally. Once the election passes and the JORC upgrade formalises the district scale and higher grades, the path looks much clearer.

Isn't there roughly 60M more warrants waiting to be exercised?

8p wall pierced :)

Quite agree! Any RNS this week should be a lit match falling into petrol..

Charles Archer’s "Buyout Pick" brings massive liquidity.

Friday’s 5.5M share surge signals heavy institutional front-running.

Shanghai’s 12% physical premium proves paper markets are broken.

Markets are beginning to price in a 50-year "forever asset" JORC upgrade.

Venezuela chaos drives capital to safe U.S. DFC-backed assets.

Whilst the US doesn’t get graphite from Venezuela, the invasion is a hard-power shock that re-prices political and capital risk across South America. In that environment, securing a de-risked African graphite asset becomes a time-sensitive national security move. Under the FY2026 NDAA (signed 18th Dec), the DFC now has a $5 billion equity fund and authority to take up to 40% ownership in mining projects (like Orom Cross). With a looming 2026 China graphite supply cliff, equity - not debt - is the fastest and most effective tool. It bypasses slow project finance, anchors Phase 1 and 2 funding in a single step, and sends a clear US national security signal that crowds in follow-on capital. A direct DFC equity stake in Orom Cross provides more than financing, it delivers governance, a board seat and strategic control rather than passive loan exposure. Structured with local participation and clear development benefits, it avoids sovereignty backlash while locking in supply before competitors can re-enter. Equity now seems like the only instrument which can match the urgency, geopolitics, and supply-chain backdrop of 2026...

Whilst I never like to see escalation, the situation in South America will be wind in the sails of Orom Cross funding