Member Info for Legalwolf

Read his first post and thought 'another mischief maker'.

I agree that the issue of a raise is "miniscule" in the overall scheme of things. But it's not a miniscule consideration for a retail investor looking to enter or add into the stock. No inflection in the share price can take place ahead of any significant fund raise, or the expectation of one, to get the DFS completed. MR has already stated that binding deals for finance/offtake can only be agreed post DFS.

So in all likelihood there is going to be at least one more significant fund raise here to get the DFS over the line. How big will of course depend on whether the final $1.5 million comes through from the DFC during Q2. I wouldn't be surprised if this all delays the DFS as well. All imo and dyor

@KB5 - thanks for at least opening up a debate on here. There is clearly some uncertainty re the DFC, because MR alluded to it, but said the officials at DFC remained positive and optimistic. But then what else would you expect him/they to say in the circs?

You then factor into this uncertainty the fact that the December payment has not been received? Even if this was due to milestones not being reached, we are now in March 2025 and the DFS is due to be completed in about three months. So any 'December DFC milestone' will surely have been reached by now? In fact, we are probably nearing the point where the final $1 million DFC tranche is also due. But neither of the final tranches have been received.

So there does appear to be an issue with the DFC GRANT payments right now. It might turn out okay, once the Trump administration decides whether/how it wishes to proceed re the DFC, but this ongoing uncertainty and/or delay over GRANT payments IS going to impact Bres because it is looking to complete all DFS related work over the coming months. This is over and above the question of whether Bres needs additional funds even with the grant money (which I maintain it does).

Apart from the ole favourite Alien Metals, does anyone have any other silver stocks on their radar and which are worth taking a look at? I suppose GSCU might be described as a copper/silver play. Thanks in anticipation.

I'm also in HEX but have been wondering whether it might have been better to wait for acidisation results to come in first. So not gone all in as it could drop on bad news from Ingomar. But will then pick itself back up for Rudyard production.

"The Company expects to receive the next TAG tranche of $0.5m from the DFC before 31 December 2024 and the balance tranche of $1m in H1 2025, in accordance with the tranche milestones set by the DFC."

Has the December 2024 tranche been received?

Those who reply keep feeding the troll. It's a simple as that. He might post less if they didn't reply, but they do. They give him importance by doing so. All as bad as each other almost. But they won't listen, they need each other.

ID78 - there can never be another GCAT. GRL's issues, such as they might be, are likely to be much more 'conventional' rather than basket case.

We still have a large seller. Any idea who and how many?

Bid gone up - looks like we are forming a bullish reversal at the bottom of this range. A good entry/add point and all just ahead of news on Monday. If that news is good, then expect some of the PDAC attendees to get in on the action meaning we could have a monster move back up. All imo and dyor

KB5 - I wasn't saying supercedes in that sense. What I am saying is that the most recent written statement that I can find about whether or not more funding will be needed to complete the DFS is set out in the AFR dated 31 Jan 2025:

"As the DFC grant does not cover the entirety of the Definitive Feasibility Study costs, further funding IN ADDITION TO THE AMOUNTS ALREADY RAISED AFTER THE YEAR END will be required during the going concern assessment period. Management will pursue options for this funding INCLUDING SHARE PLACEMENTS and other potential sources."

This clearly states that even after the November 2024 fund raise, additional funds will be needed to complete the DFS. It's there in black and white.

Now if in addition to this aforementioned shortfall, the final $1.5 million from the DFC might not be forthcoming for the reasons you highlight, then SIGNIFICANT funds will be needed in Q2, or the DFS will need to be slowed down. I would not describe the dilution as miniscule. You have to add in Bres's working capital needs and other liabilities to the equation. So I do think that one more fund raise is highly likely here to complete the DFS and other costs - and absent DFC monies it will be one of the largest yet. Hence why I remain interested but on the sidelines for now. All imo and dyor

The AFR was 31 Jan 2025, so supercedes any earlier statement. It is the most recent written statement on the matter that I can find. It clearly states: "As the DFC grant does not cover the entirety of the Definitive Feasibility Study costs, further funding IN ADDITION TO THE AMOUNTS ALREADY RAISED AFTER THE YEAR END will be required during the going concern assessment period. Management will pursue options for this funding INCLUDING SHARE PLACEMENTS and other potential sources."

You can twist the natural meaning of these words all you want, but it's there in plain English! Some are suffering from confirmation bias, interpretation bias and cognitive disonance. I'm simply speculating that the reason the share price is rooted to 4p despite various RNS is because the AFR is telling them to expect another placing to complete the DFS. Not a single one of you can find an interview where MR has stated otherwise - although apparently there are many😉

PFG - this isn't a GMET - yet. Dilution has been at the same or lower level. With warrants to clear, it's hard to see how the next one in Q2 will be done at much above 5p. But let's see

Gold going up whilst indices struggling. 3000 will be hit this month. What a great time to then start drilling PEPAS 2. 10p could well be the load up point that we all look back on in a few months.

Closing strong. If it continues like this tomorrow then we should see the 5s this week. GLA

At this rate, happy to NOT get further results this week, as the share price is doing just fine on anticipation of them!

How comes the two trolls always seem to be posting around the same time? Uncanny that....

The statement is very clear - because the DFC grant does not cover the DFS, further funding will be needed by Bres during the going concern period in order to cover this cost over and above the most recent raise. Otherwise it makes not sense to mention a shortfall for the DFS. Although the going concern period might run to Jan 2026, we know that the DFS work will need to be completed and paid for by the summer 2025, because that's apparently the target date for completion of the DFS. I can't comment on what MR has said in interviews, because noone has actually referenced those interviews.

It's a question of timing, which I accept you can't always get right, but you should at least try to, or at least be mindful of timing risks. Generally, I try not to buy such shares ahead of placing risk, unless confident that the next placing will be at higher prices, which in recent times has been quite rare for juniors. Bres is proof of that with the last raise at a lower price than previous ones, with the addition of warrants.

So IF funding is going to be needed in order to complete the DFS, then it will need to take place before the DFS is completed, which folk are saying will be in the summer. Now unless Bres find the cash from elsewhere, that means another placing in Q2. The last raise was at 4p. The share price is currently at 4p.

How does the share price go up in these circs? What newsflow pre DFS will cause it to go up and clear all the cheap warrants as well. I'm struggling to see it - the drilling results perhaps? - and therefore see Bres as a post DFS (or DFS funding) investment. All imo and dyor

Stock showing good strength during general market weakness. That's a good sign of bigger gains to come.

This is definitely one you want to be holding throughout 2025. You have share price moving newsflow coming up on PEPAS 1, PEPAS 2, APTA and El PANTANO. You then have the possibility of JVs on these or other prospects. ALL of these developments will happen in 2025. There is every chance of seeing some spectacular share price movement from these levels, taking OMI well beyond 20p. I am just going to let it all play out.

It makes sense to have the PDAC and then release results. Allows and incentivises the attendees to buy stock at bargain basement levels.