Member Info for JamYesterday

Why no Retail Offer?

Second class investors, that's why.

Certainly, the does seem to be an urgency about getting information out there which will support the investment case for Prd, this week. And yet, I observe from the sidelines that the sp refused all this week and last to break 3.3p on good sentiment, and now some selling pressure is increasing.

Interesting situation to monitor.

Me too, Zebbo.

In today's geopolitically stressed global environment, I reckon 70p for Seascape at this stage, financed to snap up Block 507 next door to Temaris, plus the rest of its Malaysian assets, is a superb R/R investment opportunity.

In the current distressed investment climate, raising a small amount of additional cash clearly for growth purposes and not to keep the lights on, reflects well on the management team, the strategy and geographical positioning. Not to mention that certain directors will be participating, as will I, in the Retail Offer.

The significance of BTR New Material Group to Blencowe Resources and its Orom Cross project in Uganda is rooted in BTR’s status as the world’s largest producer of lithium-ion battery anodes.

While Blencowe has multiple partnerships (including the US Government’s DFC), its relationship with BTR—and more broadly with the Tier-1 Chinese supply chain—is a critical "stamp of approval" for the technical viability of its graphite.

1. Technical Validation and "Tier-1" Status

BTR controls approximately 60% of the global natural graphite anode market and supplies giants like Tesla, Samsung SDI, and LG Chem. For a junior miner like Blencowe, having BTR test its material is the ultimate litmus test.

Purity: BTR’s involvement confirms that Orom Cross graphite can be upgraded to the 99.95% purity required for battery-grade anodes.

Commercial Viability: Successful testing by BTR signals to the rest of the market that Orom Cross is not just a "resource in the ground" but a product that meets the stringent specifications of the world's most demanding EV battery manufacturers.

2. Strategic "Bridge" Between Markets

There is a unique geopolitical dance occurring with this project. While Blencowe is a British company receiving funding from the US International Development Finance Corporation (DFC) to create a "non-Chinese" supply chain, BTR provides the essential Chinese processing expertise.

The Agreement: Blencowe signed a strategic MOU with BTR to conduct large-scale metallurgical testing and potential future offtake.

Operational De-risking: By leveraging BTR’s technology, Blencowe reduces the risk of failing to meet international battery standards, which is a common hurdle for new graphite mines.

"Mike should extend warrants for those of us that have been so patient. Not fair that we miss out because USA/Israel have bombed the markets. Im Sure BRES could do with the money too but theres no way im exercising at this price. Give us another 12 months Mike"

Mercedesman, I can't quite make out if this was a tongue in cheek remark, or a genuine plea from a disgruntled placee.

Either way, my retort is, Mike, please learn from your gross error of judgment about past warrant largesse and if you really have to, in future, then add a clause that demands forced warrant conversion within a specified number of days once the exercise price has been exceeded, again for a specified number of days. Otherwise they become null and void.

Simple solution, tried successfully elsewhere. Not rocket science.

Agreed.

80p, for crying out loud.

Written by a guy (I presume as most females are far too modest and conservative) who has regularly fallen in and OUT of love with PRD over the past 2 years.

Zero credibility.

Now, if you rank Orom Cross based on a "Sleepers vs Hyped" list, which deposits are genuinely undervalued vs over-promoted, you get the following synopsis:

"How I’m defining “hype” vs “sleeper”

Hype‑leaning:

High narrative density (lots of promotion, ESG/“battery” branding, conferences).

Valuation already bakes in success (or more).

Retail/institutional awareness is high relative to actual cash flow.

Sleeper:

Rock and engineering are better than the market narrative.

Valuation still reflects “optional exploration story” rather than “strategic supply asset”.

Often in “unfashionable” jurisdictions or with quieter management.

The hype‑leaning cluster

Balama (Syrah)

Not overhyped in a silly way, but it’s the benchmark—everyone knows it, every EV/graphite deck references it.

Upside is now more about cycle and execution than “discovery”.

Siviour (Renascor)

Now marketed as key Western anode feedstock; large resource, strong economics.

A lot of the “this is a cornerstone non‑Chinese source” premium is already in the story.

Matawinie (Nouveau Monde)

Heavy vertical‑integration narrative (mine‑to‑anode, Québec, hydro power).

Capex‑intensive, execution‑heavy; story premium arguably ahead of de‑risking.

Talga

Trades more like a materials tech/anode company than a pure miner.

Graphite resource is effectively “leveraged” by the processing story—again, not a sleeper.

Nachu (Magnis)

Big resource, but long history of promotional noise vs delivery.

Market knows the name; risk is more about credibility and funding than geology.

The genuine sleepers

Molo (NextSource)

Actually in production, modular expansion path, Madagascar risk already “priced in”.

Still doesn’t get the same airtime as Siviour/Matawinie despite being real, operating capacity.

Epanko (EcoGraf)

Bankable DFS, German development bank interest, decent scale.

Perennially overshadowed by louder peers; classic “if it ever gets built, people will say it was obvious”.

Lac Guéret (Mason)

High‑grade Canadian resource, but corporate strategy and delays have dulled the narrative.

Rock is good; story is tired—textbook sleeper asset, not a sleeper stock until the structure clears.

Where Orom Cross really sits

Orom Cross (Blencowe) looks like a deep sleeper on a risk‑adjusted basis:

Geology/Mining:

~60Mt+ JORC, shallow, lateritic, very low strip ratio.

Large flake component and simple mining geometry—this is cheap rock to move.

Narrative vs reality:

Market still treats BRES as a tiny AIM explorer rather than a potential long‑life strategic feedstock.

Uganda is “off‑map” for most graphite investors, which suppresses narrative value.

Asymmetry:

If capex/opex numbers come in competitive and offtake/DFI support materialises, the re‑rating potential is far higher than for already‑anointed names like Siviour or Matawinie.

If it fails, it dies like any junior—but the starting valuation is l

A quick check with AI reveals the basic position of Orom Cross amongst non-Chinese graphite deposits:

"Where Orom Cross Sits in the Global Landscape

1. Size Ranking

Orom Cross is roughly top 10 globally among non‑Chinese deposits by tonnage.

2. Competitive Position

Bigger than most Canadian, European, and Australian juniors.

Smaller than the African giants (Balama, Mahenge, Nachu, Molo).

Comparable to Matawinie and Lac Guéret.

Likely expandable — the orebody is shallow, lateritic, and regionally extensive.

3. Strategic Implications

Orom Cross’s value proposition is not sheer tonnage — it’s:

Ultra‑low strip ratio (one of the lowest globally)

Simple metallurgy

High proportion of coarse flake

Potentially very low opex

Jurisdictional diversification (Uganda)

Modular, scalable development path

This combination is rare — and arguably more important than headline tonnage."

That last sentence says it all.

I'm scratching my head in puzzlement as to why, some 3 1/2 months after that stonkingly good DFS was released, that no definitive offtake deals in size have yet been announced.

Seems everybody is waiting for the funding to come through to put even Phase 1 into a production green light mode.

In this current market environment that's the only thing that matters.

I take it that the Irish Examiner didn't write the last four sentences.

"the combination of shallow mineralisation, a proven district analogue, and an increasingly credible management team means this deserves attention."

Hmmm.

Try that for size, Irishdemon.

Mcap and others, I take it you know how to use the filter button here.

My sympathies are with the Niger government.

Why hasn't Save been able to fulfil its drill obligations in the Agadem field and move the project towards development? They've had 7 years, for God's sake.

LW, perhaps you should stick to Bres matters only, and stay away from expressing an opinion on matters you know little about. The Iran war situation is going to remain ugly, and possibly get uglier still, in coming days and weeks.

Sorry, underwritten, not undertaken.

I wonder how much pressure the DFC is giving Bres to move immediately to a Phase 2 operation, undertaken by the US, rather than a tentative but logically set out initial Phase 1 production plan as envisaged by Mike. The numbers easily justify such a bold move.

Yes, that's first gas production for both DEWA AND Temaris in 2028.

"You can drill a completed production well for just $15mn", because it's in shallow water.

I wasn't aware of Malaysia's 5%+ growth potential, with a large chunk of the rapidly growing power demand coming from ambitions to be SE Asia's primary IT data centre location. So a "structural gas for power demand shortage" factor comes into play here.

And local banks are warming to lending on gas projects, given their green credentials, and with other smaller players coming into the market. Bodes well for low dilution on FID financing (but makes future deals more competitive to win).

Solid medium- and long-term hold.

That time line is not what Mike said before Xmas.

A quick check on AI specifically with regard to your claim, suggests Equitable is correct and you are wrong, sir.

I can't be a r s E d reprinting the full text here but please feel free to do so in your own time.

Suffice to say, Creo got 510(k) authorisation for the Full Suite of MicroBlate products for endoscopy use in June 2025.