Member Info for Legalwolf

I had read December 2024 in one of the RNS, and indeed the Prospectus states Q4 2024. So either they are late, or Bres have not amended the dates to reflect the delay in the DFS from when those dates were first provided? I'm happy to accept that its the latter and the dates need to be amended. But not good to have such errors in the reporting, on such important details imho.

Re this drop being down to a distressed seller, that might be so, but the greater concern is lack of buyers coming in at the lows? Without them coming in, and sells still going through, it looks very much like this is going to fall to 3p. Seen it many times before where the share price falls to the placing price, and then the placing looks less discounted as a result. Might be wrong of course - and wouldn't be the first time - but then why don't the bulls on here explain why the share price is trading below 3.5p instead of just going on attack and condescending mode all the time.

Surely, it shouldn't be anywhere near these levels, regardless of one distressed sell?

Talking about charting, we are breaking out of a very large basing pattern that has formed over two plus years. The good news is that we have NOT yet broken out of this large basing pattern, so the "meat of the move" is still ahead of us. At the moment, it looks like a bull flag is forming (some might see it as the handle of a cup and handle) but the bottom line is that the chart is looking very bullish. I suspect it will be a case of market digesting these exceptional results, buyers taking whatever stock is available at the low of this formation, and then we (hopefully) get another breakout. All imo and dyor

Something aint right here. Company is in the middle of drilling so things should be more buoyant. However, share price has broken down and is trading below 3.5p. Whilst tempting, I am still of the view that 'DFC funding uncertainty' remains the issue here right now. The final DFC tranche payments are seemingly late (one was due in December 2024 for example) and Bres are in the middle of costly drilling. Whilst it's my understanding that a raise was going to be needed even with those final DFC tranches, without them it's an inevitability. Either that, or you have to slow down the DFS, but is that even feasible in the middle of drilling, which is one of the main stages left towards completion?

Overall, I do wonder whether the share price is merely retracing ahead of the next capital raise here? If totally wrong about, the general air of concern/uncertainty is such that it might need Bres to come out and give some unequivocal reassurance that all is well, remains on track, remains fully funded and there are no plans to raise. All imo and dyor

Agree with ID78. The results are truly exceptional and we are cashed up with two Rigs ready to expand the resource. Inevitably, there will be some overhang from recent placing and warrants, but that's the case with most juniors. This will re-rate to the next level once the overhang is cleared.

If you believe in the project - and the initial results here should ground such conviction - then it's a case of just buy, hold, add on dips and let the drillbit do the talking. Both copper and silver price will provide tailwinds and this could turn out to be a real growth stock in 2025. It's already done really well.

It's academic how quickly PEPAS will take to get into production. We will be making our gains here through exploration and discovery. The market rarely looks that far ahead. The Lassonde Curve model also demonstrates this by separating the exploration and discovery phase from the development phase. You see significant rises during each of these phases, with a lull in between them. So arguing about production timescales is rather pointless and misconceived imo.

At the moment we are in early stage exploration at PEPAS. We all know that decent discoveries will result in a JV. That's how the industry works. Therefore, if it continues to go well at PEPAS, there will be JV interest. Why wouldn't there be?

But we don't need a JV right now in order to see share price growth. All we need is to continue to produce drilling results that will continue to result in buying demand and hope the general market conditions continue to be helpful.

Simply this exploration phase will take us to new highs in the share price. How long this phase will last, or how high the share price will go during it, none of us really knows. I think most of us have invested here because we are excited by the EXPLORATION potential of our assets. If we are right about this potential, the rest (i.e. JV and production) will inevitably follow like night follows day.

WOW. Absolutely stunning results. Tier 1 resource in the making. Time to load up

If the placing has been completely taken up in the first 48 hours then that shows the MASSIVE demand at these price levels. It’s therefore a no brainer to buy up whatever stock is available at the same price on the open market. Having institutions coming in at 9p means they will undoubtedly support the share price on the way up. Having liquidity on the TSX will also prove to be a master stroke because now we will have RNS days where there will be a reaction at 8am on AIM, followed by another reaction at 2.30 on the TSX. That will result in days where the share price will go up by a significant margin. The bullishness and ramping on here will be off the scale. Load up and enjoy the ride.

PS: ISA money to come in during April aswell.

Https://x.com/MinerDeck/status/1900551888551985225/photo/1

PeteTongs - that sounds plausible, but then you also see lots of 2 shares, 3 shares, 4 shares etc trades going through?

I've noticed this across AIM shares. It seems a lot more common. There must be something behind it?

"Yes, the DFC may have first right of refusal to fund OC into production..."

If they have first refusal, then it's theirs for the taking. But if they don't then have the know how to bring it into production without Chinese expertise, they can't really resolve that conundrum, without allowing that Chinese expertise to play its crucial role. You then have the problem of whether the two respective administrations will allow that.

But when MR signed the agreement with the DFC, you would have expected it to be implicit within that agreement that there would need to be Chinese involvement.

If the two countries do end up in a trade war, it is hard to see the Chinese allowing any of their companies to help the US in any such situation. All depends on how bitter it gets.

That's right mrdigit. Also, as Karl reminded us the other day "pep 2 looks good let’s not overlook step out drill pep27 which hit 80m at 2g. Looks like a new mineralisation area. The rns is a bit vague but it looks the strike is open to the SE at pepas 1"

So plenty to play for at Pep 1 and Pep 2.

That's without the warrant monies, which if exercised will give us another couple of million. I'd expect them to be exercised during what will be a bull run?

They've given NPV and IRR, but what we don't have is net income, which gives you the bottom line. Clearly they are giving the most headline grabbing figures out, which I guess is to be expected. Someone with an accounting/finance background should be able to work it out from the published figures.

But in the AIM Casino, we are mostly a bunch of degenerates and don't have the brain cells for such finer details.

Ah right, I see what you mean, it's not net income but net revenue.

Dai - you already have the profits from the Net Revenue figure quoted below???

If they have already reached full subscription, will they close the offering and announce that, or wait until 27 March?

In a way, now having the AFC on board will help Bres to navigate the geopolitics. The AFC will be willing to work with whomever. But don't the DFC have first dibs?

I'm inclined to agree with icecream on this. We had this debate on here many moons ago, and MR was asked whether there would be any tension between dealing with Chinese and USA at the same time. That was during Biden's tenure. Now its the Trump administration - and China is their biggest target for trade wars, mineral wars and tariffs, I simply don't see the DFC providing development funding unless the Graphite from OC is to come into the US. I doubt they will even be satisfied with European offtakers, because they are quite anti Europe as well at the moment.

If Trump/Musk continue with their politics, Bres is going to have to make a geopolitical choice between US, China and Europe for OC when it comes to funding and offtake deals.