Member Info for Legalwolf

Totally missed the point behind my posts. Let me try simplifying it further for you:

1) Stock A goes up and does raises at a discount each time, albeit at higher levels each time. So raises are done at 3p, 5p, 7p, 10p, 15p and so on.

2) Stock B remain stagnant at an average of 5p. Raises money at 3p, 4p 5p, 5p, and 5p.

What I am saying is that for all of Bres's undoubted plus points, the strategy for raising money at 5p each time is likely holding back the share price. I don't see why it should be lauded in any way. Saying that it's at a premium to the prevailing share price is also bs, when that share price has been kept suppressed by the strategy. Furthermore, the timing of the raise is also key to being able to say whether it's a discount or a premium. Had this raise been announced a couple of months ago, or the SI raise announced, when the share was trading nearer to 6p, it would have been a discount, not a premium.

So its nonsensical to talk of raises as minimising dilution or being done at a premium when the reality is that the share price is being pegged back by the strategy of fundraising here. Now, there might not be any alternative, but let's not describe it as some kind of victory over the market or outperformance, when having to raise at 5p each time! There is no point buying these shares above 5p, because the next fundraise at the 5p magic level will just undercut your holding (again) if you do. That is why this share is stuck at these levels. All imho and dyor

I'm afraid I see things differently here. Firstly, I think it's misleading that Bres don't do dilutive raises and raise at a premium. The share price has barely moved in the last X years, which is why each raise is being done at 5p. In fact, hasn't it been the case that Bres's approach to raising at what is now becoming the 'the magic 5p level' is what has basically ensured that the share price will just hover around that level until all raising is done, because it has acted like a handbrake on the share price?

For example, MR has just said that the SI is still going ahead, and the delay with it is just an administrative issue with the SI. This sounds like good news, but when you really think about it, what it means is that there will be another round of dilution (of £1.5 to 2 million) at the magic level of 5p. So how is the share price expected to move, when there's going to be another significant round of dilution at 5p.

We have often wondered why Bres isn't taking it off? It must be because the market has gotten used to expecting these raises at these levels and so isn't going to buy at 6p + in large numbers, until it is sure that raising at 5p levels is over, which it quite clearly isn't.

Also not sure about having so many parties having to come together to raise this latest sum. It's much more re-assuring to have only a few but larger backers imho.

I have - clearly they show activity at Block 19, but so far as Heron is concerned, not so sure. What have you guys made of them? I must confess that I couldn't quite see what Master was getting at re today's images, but because of the stick that Doc took, I thought i'd avoid an invitation to Specsavers.

Again, strong price action given that (arguably) the DQE confirmation RNS is late arriving.

Very strong price action so far.

"The project has now escalated up the value chain."

"Rest of the year could be transformational for KAV."

Mentions that RNS has been drafted for the likes of Rio Tinto, Sandfire and others who are actively looking for copper projects in the area and KAV has a huge land base.

A very good chance of multibagging into the end of the year this. Time to add some more and then let it all play out. GLA

News must be incoming very shortly. GLA

The majors will be watching developments with interest and I’m sure KAV will be happy to JV or sell. Big second half of the year coming up here for sure.

I took some on the bell, but not my full position. Will wait to see where it settles before adding, whether that is higher or lower. There are always some sellers following any placing, so there will be some churn I would think. Need to give it a few trading sessions to see if it hits the placing price I think?

Not a cross ramp, but KAV are also drilling at KCB and thought holders here might be interested and encouraged by their RNS.

https://www.lse.co.uk/rns/KAV/bots-karakubis-copper-mineralised-system-confirmed-3ocgswohrn9jjin.html

Https://www.lse.co.uk/rns/KAV/bots-karakubis-copper-mineralised-system-confirmed-3ocgswohrn9jjin.html

Https://www.lse.co.uk/rns/KAV/bots-karakubis-copper-mineralised-system-confirmed-3ocgswohrn9jjin.html

Look to have hit a copper and silver mineralising system from their first hole! 4300m and 14 holes to go!

What a fantastic result. Hole in one and a brilliant start! The silver is a very welcome bonus and will increase the value of the project. Expect we might be hearing from BT shortly as well. Time to add and watch this multibag in H2 of 2024 on both copper, silver and gold!

Yes JV was entered into last December and after Char’s successful drilling last summer.

It is a massive drill - I think there might actually be two drills - coming up at Char. However, although it's a discovery, Char have not flow tested it, and so the drill(s) will include flow testing. So there is still some de-risking to do of the Anchois discovery by Energean, the JV partner. But all this only matters if you intend to hold for results.

The other factor here is that the placing shares won't land until 14 August, because it needs an AGM and vote. So will there be a drag on the share price until then? And will placing churn kill any rise that you might expect before drilling, which is also due to start in August? So could be a situation where you end up having to wait for results.

But Chariot does have a very good looking portfolio of projects, and are looking to add a Namibian oil play to it as well.

I agree that you have to be careful who you listen to on a BB. I exited here as soon as Char announced it was running out of cash in July. From that moment, a placing was clearly a very high risk. However, there were posters on here saying it wouldn't happen, and some even asserted that they had been told this by the BOD.

I'm not surprised that there is a raise, only that it's not for a larger amount, and I too groaned when I read that Char was going for another project. It is already spread too wide across existing projects. So unless it really does have concrete plans to divest the TP side of the business, I would worry about the endless dilutive impact of so many projects.

In terms of the amount raised, Char will gobble it up by the end of the year.

Is the acquisition of new projects conditional on ENOG money coming into Char first? It certainly should be! Or are they going to raise again at higher prices off the back of a successful drill at Anchois?

Yes Moors - we just need some volume to come back in, which hopefully the RNS will bring with it. Difficult to draw too many conclusions about the share price on such low volume price action.

You would think MM would want this to have a strong close today, ahead of news next week. We've had 3 tests of 1.5p, which have all been sold into (as might be expected). But each of these tests has been from low starting points (Sub 1p, 1.25 and 1.3p).

If we get a decent (1.35p) or strong close (1.4p) today, and the RNS lands next week, then we get to retest 1.5p from a higher starting point, and with lots of supply already taken out above us, you would expect 1.5p to be taken out.

So just a case of waiting for this RNS me thinks - but this is AIM so who knows. GLA

This close to news, you would think buyers/buying will be stronger?

Probably Peel/MM running it down on low volume. I think they did this with HE1 as well, and it has since bounced back. I'm sure this will go green again, once the shaking is done. Again, another opportunity to add. GLA