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We don't have long to find out, so I guess not much to be gained by over or under speculating on the eve of the announcement. It was MR who said we will get a longer LOM, and so that is what i'm expecting to see, but let's see.

Share price isn't going down but consolidating once more. I also very much doubt that this supply has come in because of the content of the JORC, as opposed to benefiting from the liquidity it has created?

Someidiot - MR said in a recent Q&A that there should be an increase in the LOM. The uplift should make it economically viable for a longer period.

Monochrome - I recall that MR indicated a range of 15% to 20% of the NPV prior to funding. As I understand it, post funding it rises to 40-60%.

My post crossed Merchant's - totally agree with that.

I know comparisons are not always reliable, but similar sized SPG plants have added over $550 million in NPV (but with a much higher Capex than BRES's SPG is likely to come out as).

So if BRES's SPG generates only half of this - again being conservative - you can see where this DFS could end up!

There's a range of factors that will contribute to a higher NPV for the mine. Specifically the JORC means a longer life of mine, higher rates of tonnage to give better results, positive impact on mine sequencing and faster payback. All of this will have a positive impact on payback model. Then we have the other factors that will positively impact the NPV, such as increased confidence, the progress on offtake, hitting costs really hard (e.g. energy), corrossponding reduction in risk, etc. Hopefully all of this will positively outweigh any factors that point the other way, such as a higher discount rate being applied.

But even if the NPV for the mine only increases by say $100 million when all the above is thrown into the mix, which is very conservative, you then have to add in the SPG plant! This by itself could take the current NPV towards $600/700 million.

When you combine both, you can see the potential here for a really significant uplift to the current NPV - smashing it out of the park type of uplift.

There is no need to release it intraday and I can't see why they would want to do that. It will land at 7am as normal, either tomorrow, Monday or Tuesday latest. Anyone's guess as to which of these three days it will be. I'd prefer Monday myself to create a bit of weekend FOMO.

MR said he wanted the DFS in time for conference. So I think it will land on Monday. He can't really pitch it otherwise as it will be price sensitive information.

Hopefully that is the case icecream as better offtake was something MR referred to. We also now know that they have successfully converted resources in reserves - 47% uplift. This is going to give a longer mine life, produce at higher rates of tonnage, impact mine sequencing and give faster payback. On top of this, we know that they were aiming to "hit costs very hard". So all this combined, should reduce risk, and result in a significant increase to the current NPV of $480 million. And on top of this, you have the SPG plant as well.

It's a very bullishly worded RNS, when we thought it might be a duller announcement. Importantly, in writing today's RNS, they will have had the benefit of knowing the NPV figure that will be delivered by the DFS. So with that knowledge and context, the bullish tone of the whole RNS and including the quote: "This upgraded JORC is transformational for Orom-Cross", does make you think that they are about to deliver something quiet special?

I wonder if they will even bother now if it's already made its way into the Resource category. I recall MR saying something along the lines of 'why bother drilling if its not going to add anything'. But let's see.

ChartaRex - MR is presenting on Thursday, but will be at the conference from Tuesday, as:

"He will also be competing in the Mining Pitch Battle on Critical Minerals at the Investment Theatre at 16:00 on Tuesday 2 December."

"A further 192 step-out holes, drilled across the wider mining license area at the new Iyan and Beehive deposits, including the six deep drillholes (each of which terminated in graphite mineralisation at depths of ~100 metres), are yet to be incorporated. These results collectively demonstrate the broader system scale potential and are expected to support an additional JORC expansion post-DFS in 2026, providing a powerful growth runway for the Project."

This is almost as significant as the JORC upgrade in that it now looks like the step out and new deposits will make their way into the JORC after all? This is major, because previously MR was not sure that enough drilling had been done on them to be included, and they would have to sit as an "exploration target" until more drilling was done. Are they now saying that more drilling won't be needed and they have done enough already to incorporate this upside? If so, what a big bonus that is, because it increases the value of the project (and hence the asking price), saves time and costs from more exploratory drilling, and enables BRES to concentrate solely on getting the funding done!

I would imagine that MR will be emphasising all this in due course. Excellent outcome - if I have understood it correctly?

https://x.com/BlencoweRes/status/1993968168906445200

Relax folks - imho a little bit of a shake and/or traders exiting shouldn't result in anyone changing projections or coming up with new thesis. There will be supply at all levels and we have been stairstepping our way up to the top of this trading range. Just as there are sellers at the top, so there are buyers at the dip that the sellers create. No doubt MM will want shares for the move up. To me it looks like a continuation of the stairstepping action.

Once this supply is absorbed, up we should go once more. All imo and GLA

Brilliantly written RNS that and really drives home the huge value of this deposit and the significant upside that will come early in 2026.

Excellent pre cursor into the DFS. Really can’t wait for the DFS and if it’s written half as well as this RNS, we are in for a major re-rate.

It seems clear from this that a big DFS and rerate is on the way here. Hope it’s on Monday.

Do we get the big breakout today? GLA

Finished up 10% on TSX so every chance of a rally....

BRES do seem to like a Friday RNS, so I think it will land then. But I would prefer Monday, as we are doing just fine during this anticipation mode. The ideal scenario would be to be at the breakout level (i.e. the 9s) just before it is released! This is the scenario we are in fact heading towards it seems.

Let's hope the DFS does indeed smash it out of the park. GLA

The markets are bouncing as well. Perfectly timed for BRES's Big Breakout!

Silver is breaking to the upside, which bodes well for gold. If gold can climb back above 4215, then it too should break to the upside. Both GDx and GDXJ are turning to the upside. It won't be too long before OMI follows. All my spare cash has gone into BRES ahead of its re-rate next week, otherwise it would have gone into OMI. Can't have it all though!

The US markets are also bouncing, and suggesting that the Xmas rally is very much on this year. This should also help the markets here and OMI. I think it will bounce with the rest of the market and gold. All imo and GLA

MR said in recent QA that it would be ready by the time of the conference. This was reconfirmed in the recent RNS which stated (link below):

"At the conference, management will highlight the DFS results and the project strategy moving forward."

https://www.lse.co.uk/rns/BRES/resourcing-tomorrow-conference-l89ccp26g32zixp.html

I've only read the headlines, but hasn't the budget encouraged more investment in stocks and shares by making changes to the cash ISA?