Member Info for JamYesterday

Truly outstanding assay.

Is it possible that Beehive is actually a bigger, higher quality area than Northern Syncline?

So, is CC no longer excited after the update?

If you believe, as I do, that progress was made last week towards proving up a new drug delivery platform, that you should rest easy, with or without a near term BP deal. That will come to those who are patient.

Golfnut, a succinct explanation of the PFS complexities. What a pity that someone like Thorn, who spends half his day and night on the Avct bb, doesn't get it.

Cj62, how do you know that for sure?

When are we going to get a mea culpa from Messrs Ralston and Pearce about the warrant largesse they have meekly allowed from their placing agents over the last few years? Enough talk about how great the O-C resource is. We know all that. But it doesn't stop the incessant supply from lucky warrant holders, negating any positivity in the valuation.

Read the Rns. Again.

Wavecrest, it's pretty obvious duster is out right now, and itching to get back in lower.

What will get the sp going?

You know, I would really, really like to know the rationale behind these large, persistent and early warrant exercises. They are starting to p!ss me off.

I wonder if MR is aware of the reasoning. Is it some secretive third party that is accumulating them prior to a TR1 announcement? That would be bullish.

Or is it some entity or entities that don't rate BRES's chances of material sp upside in the next several months, despite the expected fundamental newsflow on offtake agreements, debt financing...?

I don't see the point, otherwise, in someone dumping 9mn of the 6p warrants with a full 2 years left to expiry, all for just 1p of profit.

By my calculation, there are 28mn of the 6p warrants remaining, and 16mn of the 4.5p warrants left. Plus the full 21mn of the recently issued 6.5p warrants with 21 months to go.

Or, is it as simple as BRES having to demonstrate financial solidity on its b/s to satisfy potential lenders before a definitive deal is secured?

Come on, Mike, a bit of an explanation is needed here.

I suppose the best that can be said about all these exercises is that it's better to get rid of them now, before the financing news comes in Q1.

The spring is loaded. Get ready for the next exciting upleg in the Avacta story, folks.

You know, Silver is going berserk, and for structural reasons this will not lessen in the next year or more. So I wonder if this will influence how CMRS allocates capital between the two possible resources they are drilling currently and as they get nearer to development.

The Risk of Delay

If binding off-take agreements are not secured in time to satisfy the lenders' closing conditions for the P1 finance:

Financing Delay: The Q1 2026 target for securing financing will be missed.

Construction Delay: Consequently, the ordering, shipping, and construction (planned for 2026) will be pushed back.

Production Delay: This directly delays the H1 2027 target for first production, and subsequently, the timeline for accelerating the more strategically important Phase 2 (SPG) project.

In the critical path of a mining project, securing binding off-take agreements is an absolute prerequisite for securing project debt. The success of the timeline rests on finalizing these sales contracts now as the project transitions into the financial closing phase.

In order for Blencowe to keep to its schedule of delivering an agreed financing arrangement for the P1 by end Q1 2026, retired start up graphite production in Q1 2027, it needs binding Offtake Agreements to be signed first. That means by year end or very early Q1. This will give the lenders confidence that there is a ready market for the graphite production, validating the impressive numbers given in the DFS. They will also generate firm revenues that the lending institutions can work with to gain confidence about debt servicing.

So early and substantial, binding, offtake deals announced by Blencowe in the days and few weeks ahead are absolutely essential for the whole plan to move forward at speed and on schedule.

It's going to be an action packed period from now on.

With those late reported large trades, I expect we're going to get another warrant exercise rns on Monday.

O-C continues to surpass expectations. When will it become recognised as a truly world class Tier1 resource?

If CL delivers, I think even 3p will look ridiculously cheap, let alone 1.4p.

I meant a small contribution by Bres, but a big one by DFC.

Maybe the DFC suggested to Bres that they make a small contribution to any combined P1 and P2 funding arrangement, hence the placing.