Member Info for Legalwolf

Sadly too many false dawns with KAV. Market aint going to buy this on anticipation anymore, but only on proof and delivery. So results will have to do the talking and heavy lifting from now on, not BT.

Reason

I think as an investor a key consideration has to be whether and when Bres will become fully funded. At the moment, it has to pay for the DFS, other liabilities and its own working capital. Does it have the monies already to pay for the DFS? Does it have funds to cover its operations until it receives monies from selling a stake in OC? Or will Bres have to do another sizeable raise at these levels?

On 31 January 2025, the AFR stated as follows:

"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. Details on the funds raised from equity transactions subsequent to the year end are detailed in note 20." (My emphasis)

Now this is pretty clear in telling the market that Bres is NOT fully funded for the DFS.

There are folk on here asserting otherwise, which must mean that MR has resiled from the AFR and said something different. Fair enough, but i've quoted my source for why I think the DFS is not fully funded, so please could those who disagree do likewise. Simply saying it's not true is not really good enough is it, when its written in the company's own recently issued AFR? Unless i've misunderstood the AFR, but the above passage doesn't really lend itself to misinterpretation.

Not de-ramping, but just of the view that the recent Bres remains pegged to these levels is because it keeps on raising at these levels and that this cycle is likely to continue for the foreseeable, which makes it more difficult to believe that share price rises are as imminent as people might think. All imo and dyor

Nothing is ever clear or consistent with GEX and the goalposts have moved a few times now, with today being the latest example. I'm going to steer well clear of it for now.

Jogonnow - when did Hamilton last say GEX remains fully funded. Can you point us all in the direction of the relevant interview? I haven't heard him say it since last year. But happy to be corrected.

Not sure about 5p tomorrow, but certainly heading that way. Probably by close of week or on next results.

You do get some imbeciles on here. Read below, I said today's news was "undoubtedly good". I'm now interested in DFS timescale and funding, or are these not allowed topics on what is meant to be a BB for discussion of Bres?

Why not be helpful and point me to where it states that all three DFS will be done by mid year?

Jungmana - I can't see it happening in May tbh. The report has to be submitted on time, then the permit application has to be processed, and then they have to mobilise the Rig and crew to site etc. So assuming they stick to this timetable, June at the earliest.

Also need Hamilton to come out and confirm that GEX still remains "fully funded". The original re-entry was meant to have been in December, so with a near 6 month delay, it's legitimate to wonder whether "fully funded" remains the situation.

Can anyone help with timescale for completion of the DFS. Previously, I had understood that it was going to be completed within H1. But in recent interviews, when he has been asked about timescale, MR has replied by saying there are 3 separate DFS studies "which all need to come together in one document" but has not gone on to give a timescale for them. The latest presentation doesn't really help in that it just has 2025 for drilling and DFS.

Is it still H1 for all three DFS studies, or is it going to extend into H2?

Computer - "Mike has stated many times now they are fully funded for the DFS". Okay fair enough, but can you (or anyone else for that matter) kindly direct me to the relevant interview(s) where this has been said categorically by MR. I'm not the only one that has been wondering about this, so it would be most helpful to resolve this query. Thanks

Undoubtedly good news folks, but why is the share price not responding, no matter what news Bres puts out? Who keeps on selling and why? It's not the market conditions, because we are seeing decent moves in the juniors. Is it one or more of the instis accumulating away and keeping the price low, or is it just the consequence of dilution at these levels (but leaving behind permanent overhang).

Why is the market not responding favourably to all this favourable news?

Been there myself - you get sucked in by the bs and end up having to ramp because you're underwater. There's a number of posters here who have been ramping away since the price was in the teens. Nothing they say comes true, but still they are at it. I guess they have no choice really.

What they should be asking, if they are objective, is why the report won't be submitted now until May 2025, meaning the drilling permit won't land until June 2025 at the earliest? This whole thing was supposed to be wrapped up between November and Decemeber, so why now is it going to take from March to June to get this permit. It's just shifting sands all the time. I really do fear that there's going to be a raise here before any drilling. It's not de-ramping - not interested in buying any shares right now with all this uncertainty - but just how things seem to be playing out here. All imo and dyor

He’s stopped saying “fully funded”. Used to say it all the time. With the delay it would not be surprising if the market is waiting for a placing here?

This might already have been posted on here, but it does highlight how good these results are:

https://x.com/AndrewScottTV/status/1895401180853055985/photo/1

Instead of having a pop all the time at those of us raising questions, why don't you smarter folk explain why the share price here remains so low. There has to be a reason for that? I remain of the view that it is likely to finances, and the market knows that Bres always place around these levels, with warrants. With or without the DFC grant money, Bres will need more funding. Whether that is for the DFS, or for working capital post DFS, who knows. There appears to be some uncertainty about whether there are enough funds here to cover the DFS.

Pretending it's all okay, or trying to only go with the positive possibilities and interpretations here, is up to you, but the market sees the risk and that's why this remains sub 4p despite all the potential.

NT to buy smaller amounts!

MM will take the lot for 11.3p. So gearing up for the next move up. With the retracement done, we should now go on to make higher highs and higher lows. Get them sub 12p whilst you can folks. Once 12p breaks today/tomorrow, i'd be surprised if we see 12p again this year.

Yes, gold is probably the safer bet, but it often leads the other commodities higher. Copper has been going up and has just reclaimed its 200MA, which can be sign of an asset going from bearish to bullish. Inflation is proving a little sticky and tariffs are likely to make it worse. So we might see a bit of boom in commodities. Can't see what else might be a good bet for this next 6 months as stocks and stock indices are weakening and looking very bearish, as is bitcoin.

Bigbench - that's exactly the right strategy for OMI. Load up, add on any weakness, and watch the drilling results take this to new heights.

GRL are also going into a different Pit where the average grade is higher.

I think OMI is well positioned to make another move up. Cracking short presentation from them yesterday.

The other junior worth keeping an eye on is GSCU - interesting copper play with some highly encouraging initial results. Gives a bit of diversification from gold as well, which tends to lead other commodities.