Member Info for Legalwolf

Another large late reported trade for £15k. Some are loading up below 9p, whilst they still can.

Have a feeling the next RNS will be "game on again" for us. Potentially going to get updates on Pepas, Apta, El Pantano and El Cedro!!!

I think we will get something by 7 July - it's clear from the tweets that there's stuff going on in the background. The meetings with insti's are likely to be about Pepas?

This has been in one of the largest Base formations you will see, whether measured from 5 years or 2/3 years. These multi year Bases tend to lead to the biggest moves up. Now, it's two bags just to get to new highs at the top of this formation (at around 9p). But 9p will be breakout into new uptrend/highs territory, not the end of a trend. So that's two bags just to go into an uptrend!

If or once it breaks into double figures - then it's impossible to say how high it might go. It certainly won't stop at 20p, but i'll stop making predictions beyond that, as it's too far ahead and all sorts will happen in the interim period.

18 months for the move to play out though - as that's how long I think it will take to get to stage one production. All imo and dyor

I'm thinking the same. Anyone not wanting to wait for results is likely to be out by now, and noticbly selling volume is drying up.

Maybe it's fears of another raise, seeing as they have spent the last one on purchasing crypto, and another rinse and repeat?

What are the finances like here?

Nearly 40% of the free float is with significant holders and/or management. None of the significant holders are operators who are going to want to take over. Amongst retail, there are also likely to be a great number in sticky hands. I'd hazard a guess at 15%-20%? Accordingly, it will be very difficult for a major to come in and acquire any controlling interest in Bres now. They would need to do a deal with our institutional investors, who won't be letting go cheaply, having waited patiently for their returns on this investment.

The DFC have first dibs, so maybe they could drive a hard bargain, but they are a funder, not an operator. Their remit is to secure resources for the US, rather than to make a killing themselves. Don't think the AFC are sharks either, when it comes to financing their projects. They will be happy to simply make decent returns on any funding they provide.

In these circs, and particularly if Bres has various funding and offtake options lined up, how does a major get this on the cheap? More likely to be a bidding war, or foul play?

Meetings with institutions as well, you could well be right in your theory Doc.

So now moving APTA to a MRE? Well that's excellent news, as I thought spending the £50k to do so was a no brainer. BG is going to give the market "a warm fuzzy feeling" after all!

200MA is at 3.9p - key level that imho. Close above that and I will really start to get excited.

NT to buy unless minimum of £5k. Need to crack 3.7p to breakout of a year long down trending channel. Currently 3.9p on the Ask.

Friggin NT to buy already. Re rate coming up!

That’s probably the best RNS that I’ve ever read from Bres to date. Sets the scene perfectly for what’s going to come in H2. The JORC upgrade is definitely looking like it’s going to be headline grabbing.

Many thanks for that Trek - much appreciated as always. Got a good feeling about TIR, but let's see what happens. Will also be looking to add more tomorrow. All the best!

Trek - a lot of these treasury shares look like they might be setup as "pump and dumps" with insiders having acquired very cheap shares, to offload into these wild rises. I suspect many have been offloading this week, hence the huge drops across them.

I am in TIR, and looking to add, but note from the last placing that it too has issued billions of cheap shares at much lower levels. Is this not a concern for you?

This has outperformed every single one of its sector today. The only other blue is BMV, which had a RNS to support it, but this is up slightly more than even BMV. Remarkable show of strength.

Keeps going NT to buy. Looking for bid to nudge up to 0.42p and if so, we might well be up and away.

Last of the sub 0.4p have been taken up. Close above 0.42p, and I think we can resume the uptrend and breakout to new highs. Could well finish the week making up all of yesterday's retracement, which would be some feat and show of 💪

Seemed like touch and go for a while there, but it does look like the sellers might have been absorbed. A very bullish bar is forming, and if it closes strong, we look to make another push for new highs, especially with a LOT of the sellers out. Should leave buyers free to resume the uptrend.

Yes I would expect new highs on the next move up.

Doc - do we know for sure that the drill has been turning at Pepas in recent weeks? I thought they were keeping the Rig on ice until they had the assays back from the international lab and had decided their strategy?

Holding up well though compared to the rest of the sector. Will be interesting to see the late reported trades today.