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Yes - might even hit the 9s by close of play. If so, tomorrow could be fun ahead of news next week.

Yes - now the market psychology changes in that buyers that don't commit are going to miss out on the best prices, and so on and so forth as this starts to move through the levels.

Could this finally be about to breakout and start a massive re-rate?

The amount of volume that has come into the stock around the DFS has been insane. If we get even half of that coming in going forwards, it's going to be a huge move up. All aided and abetted by the newsflow coming up here.

Something seems to be brewing, or it just the natural consequence of getting rid of the warrants?

Nice to see you here mercedes.

Thanks Nap - but all my spare ammo has gone into BRES.

Bid going up and into the 8s now - good to see.

Looks like a mini bull flag/pennant is forming in anticipation of news? Clearly, the big players that have created this move are expecting some positive news to land. We have spoken loads about what an amazing portfolio we have. One of the great things about it is that at moments like this, you know that good news can land from any direction, which just heightens the sense of excitement and anticipation.

Will it be El P? Will it be a JV and if so, which project and who with? Will it be exciting news on North Pepas? News on the second Rig? Updates on aeromags? Will it be the much awaited MRE? Update on foreward plan? Combination of these? How many RNSs will we get? Combined or separate updates?

There are all these possibilities (and no doubt more). $15 million to spend and with numerous irons in the fire (and more being added)! 2025 was a belter, but already in the first few weeks of 2026, barring any black swan type of event, you can just sense that this year is going to be one heck of a ride.

We are in a rich period of newsflow here with the majority of the drilling results still to come through, upgraded JORC, as well as offtake and funding updates all in Q1. It wouldn't surprise me if get another RNS next week.

Not surprised to see more folk entering or adding in recent days. I think any money on the sidelines that has been waiting for warrant absorption to conclude, or relying on it to continue so they can wait before buying, now have a decision to make.

Barring any late flurry of warrants - could this be setting up for a bit of Friday FOMO tomorrow ahead of more news next week?

Yes, I think you will do well to buy in large size now and order might need to be broken up to be filled. Another indicator perhaps that 8p is now on the horizon - hopefully!

Rob - i'm VERY excited and happy about the recent rise. It's just that following any rise, I also get excited when I see a decent consolidation, because I know it will build the basis for another leg up. So they are two sides of the same coin, and I like to see both!

As for lack of EP results, it's maybe worth listening back to the last Q&A. The lab that OMI were originally going to use 6 hours away and was going to provide a quick turnaround and do fire assays for gold. However, because they observed "substantial silver", it was decided to send the assays to a lab that was much further away, but would be able to assay for silver and pathfinder elements. BG did say that they did not want to release one set of assay results and then a second set of results on the same holes. They wanted to release in one go.

Therefore, I don't know if they need to use both labs, one after the other? If so, then that will explain the delay as they are likely waiting on the second lab?

But if only using a single lab - BG said it was "possible" that first results would come in after Xmas. So a bit of leeway there?

Mustn’t forget folks that DT and his team are said to play the stock market. Would not surprise me if some of them are enjoying the rise in gold and have shorted elsewhere!

DT is good for the stock markets if you like volatility and unpredictability which many do….

I won’t mind at all if we consolidate in the 30s. As a LTH who is aiming to be here for a while, I actually really like the consolidations and find them reassuring. The stair stepping price action is what you want to see. That doesn’t mean I won’t be cheering on when price moves up of course but just saying…

Good to see some decent buys going through in the upper 7s. Unless we get hit suddenly with a fresh batch of warrant selling it does look like we might be ready to test the 8s.

Tony do I detect more negativity or caution in this week’s posts compared to more bullish ones from you only a short while back?

Some might wonder about this.

I think BRES have the right strategy- deal with multiple parties and extract the best offers. Hopefully end up with a bidding war.

I agree. Might even explain the EU funding application that has gone in. Also thinking that in order to extract the best deal from any one funder, inc the DFC, wouldn’t BRES need to have competing offers aswell? How else would they negotiate.

Can we consolidate 8p by end of month?

Stronger day for OMI on the TSX today than on AIM by the looks of it. Roll on tomorrow!

Yes, getting very close to that 8p now. Unless there's another batch of warrants to release, hoping we can consolidate 8p by end of January. That will be a pretty good start to the year given how many warrants had to be cleared. From there, it should be a run of regular positive newsflow culminating (hopefully) in the (first of the) funding announcement(s).

Great time to load up into BRES if you haven't already - once it hits the 10s, there's no knowing how high it might go. That's the trade/investment case here.

A quick Google AI:

"Companies listed on the TSXV can be included in the GDXJ ETF, which focuses on smaller-sized gold and silver miners, including those in earlier stages of development. New Found Gold Corp. (TSXV: NFG) was included in the GDXJ following the Q4 2020 rebalance. Luca Mining (TSXV: LUCA) was added to the index effective September 19, 2025. The GDXJ index methodology allows for the inclusion of companies at various stages of development, and the ETF has significant exposure to the Canadian market (around 40%), where both the TSX and TSXV are major exchanges for mining companies."

TSXV listed Luca Mining was added in Sept 2025.