Member Info for Legalwolf

SG - good observations, although I would like to believe that having the DFC as the lead cornerstone debt partner ready to come in for P2, will actually allow us to extract a better deal at the project equity level with P1 funder(s).

It's a cracking deal for any P1 funder. P1 will be actively generating free cash flow before P2 is commissioned. I've read that it has its own payback period of 18 months. But once P2 is fully operational, you are hitting EBITDA of £333 million/year.

So if any P1 funder took even a 20% equity, they start to recoup $66.6 million/year within 2/3 years. Then if we work out what they make over the 15 years LoM, they are laughing all the way to the bank.

That's why it's SO EASY for us to hold through months of sideways action and trolling. Why no amount of trolling or share price retracements are going to cause us to part with our shares. We know that we are months away from even greater profits.

We gain or lose more in a few minutes of daily price action than Seingred makes in several months of perfect swinging.

Well said Doc - the last laugh and word will be ours. The Trolls can try to bash and/or accumulate as much as they want, but they aint going to be cashing up anywhere near the amount of chips the genuine LTH are holding.

I'm afraid there's too many Trolls operating on this bb right now. They are each and all playing an active part in making sure this bb is no more than a daily discussion about Trolls. It's actually impossible for genuine discussion to take place between genuine holders.

It's not just the known Trolls like Element, Sharetrader, Tungsten, etc. Hardly anyone listens to them much, and those that do engage with them from a position of contempt. Their influence has waned over time.

No, we have a second group of Trolls on here who are pretending to bash the first group of Trolls, but really, they are doing more than ensuring that this bb continues to be about Trolls, and not about the solid fundamentals of the company, or the newsflow. As soon as genuine posters start genuine threads about such topics, this second group of Trolls will just disrupt that discussion by bashing Trolls.

This MO becomes obvious when you look out for it.

So take a close look at who is relatively new OMI poster (one that doesn't have a history that you can trust) who seems to spend most of their time on here bashing Trolls. They are also trolling, but just playing a different role to the likes of Element.

It isn't going to stop. There are not enough genuine posters on here, or enough discipline amongst us, to ensure that it stops. Only the share price resuming to the upside is going to drown them out.

But just want to make sure that genuine folk on here don't get sucked in by some of the so called Troll bashers pretending they are legit.

"Blencowe should be at the top end or even higher than its peers, certainly if funding is secured. Taking an average is not very scientific is it?"

No it's not - but probably a convenient (albeit lazy) way of doing it for a very short report. I think once funding is secured, then taking the average will no longer work, and it will then be a case of doing a more in depth comparison, which will take into account things like funding and who, size of project and scale up, project economics, jurisdiction, quality of offtakers, who is backing the project, etc, etc.

As well as the outstanding quality of the product, and size of the project, the other key USP is that this is a DFC backed project. So far the DFC have backed it through the TAG, but they will be one of the parties that will be backing it with funding for P2. So once we get P1 over the line, then we can start to base share price projections on DFC backing and P2 scale up. That's when it will get really interesting.

Also, i'm not ruling out DFC playing a part in P1. They prefer to the funder of last resort, but if they need to, I am sure they will play a part in P1. It's just that they don't need at present because there are several interested parties in funding P1.

We sort of already know that DFC will come in for P2

Also given BRES a HIGH CONVICTION BUY rating. The upside here is ridiculous.

Wasn't suggesting we spend more cash on drilling the new deposits, but simply observing that from a funders (and developers) point of view, indeed any mining company's pov, they would naturally want to mine the most lucrative deposits first. I've not looked into it in any great detail, but the Beehive deposit looked like the pick of the four, in terms of its size, high grade and higher grade component, albeit not enough drilling has been done on it to have any level of confidence.

IF Beehive could potentially represent a more economical and profitable deposit to take into production first, and the difference between its economics and profitability with those of the current flagbearers (NSyncline/CLode) could potentially be significant, then why wouldn't the parties want to look closely at all this?

I agree - there is a lull in newsflow and market weakness. This is a great time to buy these cheap as even a complete moron can work out that with all the newsflow coming up in H2 of 2026, there is only way the share price is going to go. Not a certaintly, but a very high probability and if you don't take setups like this, then might as well not bother trading or investing.

Buy when others are fearful and in this case, when others are trolling!

You shouldn't engage with them too much Doc - I think they try to provoke you more than most because they know you are a big LTH. I also think they might do it because you do tend to reply more often than most as well.

Yes, I would tend to agree that funders can only start to complete their appraisal of the project, and due dilgence, now that they have the final optimised DFS and the upgraded JORC. Both of these have thrown up key new information to consider, not least that we now have four viable deposits, whereas the JORC/DFS was based on North Syncline and Camp Lode.

However, I think Beehive outperforms the other deposits on thickness of mineralisation from surface and highest peak grades? So although it hasn't had the drilling necessary to turn it into Reserves, I wonder whether it would actually be more cost effective to mine than North Syncline and Camp Lode?

With a project like this, would you not want to go for your lowest/best hanging fruit first?

Maybe, just maybe, because he/she/it is just another Trolly?

I know MR said they don't want to hurry funders along, to avoid coming across as too keen, but a lot of companies do impose deadlines by which offers of funding have to be made. I wonder if something like this would have been considered, or whether it would be counter productive and risk ending up as a big own goal if no bids arrive, and then you lose all your negotiating power.

Looks like I have riled a Troll as seeing lots of green, but I don't know which Troll. Not that it matters, but you can judge for yourselves why any 'normal' poster would respond so much to a post aimed at negating trolling.

Whoever this is, is basically outing themselves as a Trolly.

Given the much publicised problems that Tesla have been having with Syrah, and the fact that the US DFC has first dibs on Orom Cross, I have often wondered whether Tesla are aware, or have been made aware, of Orom Cross. Would love to hear about this from MR, as it seems a no brainer to me for Tesla to be looking at alternatives.

If you Google AI the approach of the DFC, the approach that BRES are taking here (and why the DFC have not just funded the whole lot) makes much more sense.

"The U.S. International Development Finance Corporation (DFC) uses a private-sector-led funding approach, partnering with private investors to finance development projects in emerging markets while advancing U.S. foreign policy and national security interests. It mobilizes private capital through four primary financial mechanisms:

1) Debt Financing: Direct loans and loan guaranties ranging up to \(\$1\) billion with tenors as long as 25 years.

2) Equity Investments: Direct equity and early-stage capital for businesses addressing global challenges and strategic U.S. interests.

3) Political Risk Insurance: Coverage of up to \(\$1\) billion against losses from currency inconvertibility, political violence, and government interference.

4) Investment Funds: Support for emerging market private equity and venture capital funds to address investment shortages.

The DFC strictly requires that its support mobilizes private capital that would not otherwise deploy. It does not compete with private lenders; rather, it supplements them and alleviates credit market imperfections so projects can achieve economic viability. The DFC actively targets specific global needs including critical minerals, healthcare, energy infrastructure, technology, and agriculture, with a strong emphasis on financial inclusion and women’s economic empowerment."

So BRES are having to go through the DFC process seeking private level funding first, before securing funding from the DFC.

Until LSE don't make this a paid subscription only, there is nothing that can be done about trolling. We just have to put up with it.

I think genuine posters on here have to make a disciplined decision, which is to try only to engage with accounts they know are legit. I would not even give newer posters the benefit of the doubt right now, as we know a higher % of these are trolling.

This is hard to do, especially when trolls say something that you feel is plain wrong and misleading and you want to correct it. But that is actually the bait. They have to say something that they know will get attention.

It's the same as social media click bait - say something controversial and get all the hits.

I'm afraid they aren't going to stop. Been at it for months now. Remember what LC said at the start of the year, that institutions have been contacting OMI as there is a high demand for the stock. OMI shares are simply too valuable to be left alone, especially with current weakness in the markets and hence the stock. But we know what is coming up here in H2. Therefore, this is the best time for these sharks to come out and that's why they will keep on coming onto the bb.

They have nothing to lose and disrupting the bb is easily done. But we should all take solace in the following:

1) Just how hard they are trying.

2) How long they have been at it.

3) How many of them there are.

It actually shows the big interest in OMI. The more trolls there are, the more bullish we should become with confidence that they also know that there is major upside to come here.

I thought I'd continue this discussion on a positively titled thread. The mcap potential here obviously depends on how much of the project they will have to give away to secure P1 funding. I would have thought that this in turn might depend on the P2 funding solution.

In fact, the more I think about it, how does BRES decide the P1 terms without both parties knowing what the P2 solution looks like as well?

I agree with you Doc that H2 should be one of the best periods we have experienced here. To be honest, I think the war coming to an end is as crucial as exploration success, unless the market sees gold (and hence gold stocks) as a hedge against war related risk. So far, that has not been the case, and it probably won't be so late into the war. But you never know.

BTW folks, we literally have about half a dozen or so trolls operating on this bb right now. 'New ones' arrive when the older ones are starting to be rumbled. They hunt in packs and will continue to do so, particularly when there is weakness in the share price. I know most of you don't anyway, but don't engage or get baited. Probably the safest option is not to enage with any new arrivals until they have shown their true colours. And obviously, don't be baited into selling your shares to them cheaply.

"Today tungsten investor has also alluded to the El Pantano results being held back..."

No one in their right mind would talk up flip flop Tungsten. Even he knows he is a troll. So that makes you one in my book. Therefore another one filtered.