Member Info for Legalwolf

Yes it looks that way Horult. Probably best left alone now until results are in.

A commercial discovery is still improbable imho. I watched this interview from LB that keeps getting ramped on the BB, and to be honest, its being overhyped. There were moments of her usual nervousness in that interview, and of course she's going to try to be positive, that's the whole point of her role and of doing the interview.

Paulie - you need to factor in the non DFS related costs. The DFC grant money is only to pay for the DFS - and not other costs being incurred by Bres. Bres needs funding for the DFC, and for its other operating costs. The latter is probably the more pressing need, because the DFC tranche payments will cover the DFC for now. My understanding is that MR has ruled out a fundraise to cover Bres's share of the DFC, and indeed it would be impossible to raise such a large amount of funds from the market. But I suspect a fundraise will be needed for Bres's own and other operating costs, as has always been the case. MR isn't stupid, and will know the market fears a raise, and so if he has no plans or need to raise, he would just come out and say so. All imo and dyor

Is it sellers being washed out, or sellers getting out?

"We will drill a lot this year"

https://twitter.com/Ben_Turney/status/1752562355827863896

With the markets showing some signs of life again, good time to get a cheap entry into KAV. Chart looks constructive as well. All imo and GLA

I think the other thing is that offtake isn't happening for at least 6 months, because it needs certain workstreams to be completed under the DFS. Therefore, Bres will need to find cash before then, as it has various commitments before then as well as its own working capital.

Hard to see how they can realistically avoid a fundraise here. If there was the prospect of third party funding, I am sure MR would have been shouting from the rooftops about it, like he did with the DFC. All imo and dyor

Wasn't there a insti that had a 20% stake in Bres a few years back? Are they out now?

I was going to say that the party might be over for now and until results, but then you can't rule out leaks.

Good time to buy in. When you consider the newsflow that is to come here in 2024, it is hard to imagine the share price ever returning to these levels again. The difference between now and before is that they finally have a partner for Lixus/Anchois with some key events taking place under that partnership. By Q1 we should have more news on offshore and onshore Morocco.

Sub 10p won't be around for too much longer me thinks.

A very mixed report, pleasing in some parts and depressing in others. Main issue as always is cash, which Bres needs for a number of reasons. The DFS, a CGT liability and environmental commitments (they are not insured) appear to be the main ones. The bit that was most worrying:

"The Group has been approached by potential strategic partners who may eventually provide an offtake, funding or development scenario for the Orom-Cross graphite project. If this is not successful, the Board may consider stopping the project until further cash can be generated."

I think it's a case of accumulating what you can at these levels. Chart looks constructive with the newsflow to come, and only a matter of short time before it breaks above this resistance level.

"Moroccan regulatory approval of the Energean partnership transaction is expected shortly. On completion, US$10 million will be payable to Chariot." Think this will be the firing pistol if it lands before the onshore drilling update? All imo and dyor

These moves are signs that there are green shoots in the AIM market at long last!

I agree with that Horult - it's a strong buy regardless if they announce a discovery.

KR - they have to raise at some point. They told us a month ago that this drill was going to use up all their cash. So if they don't raise cash, then they will fold.

What do YOU guys think they will do regarding cash then?

I'm afraid this is the boring phase of a junior minor - post discovery into DFS and pre-funding. Not sure how much in vogue graphite stocks are either right now? Needs offtake and/or funding news to land, as pretty much everything else is known and factored into the share price.

Complete guesswork, but 1p would be about right for the next fundraise? If results are good, He1 can afford to wait to raise (and that would be the sensible thing to do in terms of the share price), but if the results are not positive, can they afford not to raise now?

Chart looks like some toddler has come and attacked it with crayons! Very messy

I think the show's over for now. It will need results now to give it lift off again? There might be a trade on at the lower levels but it's crashed back down.

Does it have one more push left in it, or is this the "pre results top" as lots of people understandably now taking profits? Let's see but it does need to digest and take a breather after this crazy run up.

I struggled to sell this morning when it shot up as well. Maybe MM have decided to look after us for once and are stopping us selling too early🤣

Another gap further up at 3.7p - surely it can't take that one out as well before results?