Member Info for Legalwolf

“to position the project for financing immediately following completion of the study.”

Liking the sound of this. We might not have to wait all that long post DFS to secure financing.

Https://x.com/OrosurM/status/1988869141734867268

Lots of gold stocks making big moves up today. Looks like reversal is on for tomorrow. Could be quite a fast move up as lots of sellers out already and any shorts left will have to cover fast. Let’s see what happens. GLA

What's going on with gold? Looks like another tear to the upside!

Share price doesn't care one way or the other what they do. Reall high volume coming in this week. Consolidate in the 8s and then we should be on for 'the breakout' on Friday!

Or maybe that should be "a few of us have been here over a year..." lost track now.

"Try to think a little further ahead, this will be a great share to own longer term."

Absolutely nailed it with that comment. What the last few weeks on the BB have shown is that a lot of folk are missing the bigger picture here by looking at the immediate picture and constantly fretting and commentating on it. For those who can look beyond the end of their noses, and see what's ahead, this is a great buy opportunity imho. But you have to be able to stick it out and wait for the gains. A lot of us have been here over a year and can testify to this fact!

NC - yes they did, but according to AI, there are still 6.35 million left at 8p. I asked it where this comes from, and convoluted answer is as follows:

"The figure of 6.35 million non-expired 8 pence (8p) warrants is derived from information provided in the company's official announcements and capital structure updates.

Specifically:

A capital structure update on October 21, 2025, listed the total number of outstanding warrants (across all prices: 4p, 6p, and 8p) as 104,741,943.

A subsequent announcement on October 23, 2025, referred to the expiry of a large block of 8p warrants. While the exact number in that expired batch isn't specified in the snippets, other recent announcements (from October and August 2025) detail the exercise of various, smaller tranches of 4p and other 8p warrants.

The figure of 6.35 million is the remaining amount from the total 8p warrants issued in the past, after accounting for those that have been exercised or expired. This specific figure is mentioned in recent internal analysis/reports as the balance remaining with an expiry date in May 2026. The initial placing in May 2023 that created some 8p warrants involved 12.7 million shares and half as many warrants (approx 6.35m), exercisable for 3 years, which would mature around May 2026.

Therefore, the 6.35 million represents the specific tranche of 8p warrants that were still valid and "in the money" (or near the money) as of recent dates and have an expiry date in May 2026."

I'm not even going to try to unpick this😒

Yes Mercedes - you pay whatever the exercise/conversion price is for the warrant, regardless of what the share price is. Hence you have warrants that are 'in the money' (share price is above the exercise/conversion price) and those that are 'out the money' (share price is below the exercise price). In your example, yes they pay 8p to convert the warrants into shares. Yes, it makes no sense to sell those 'new' shares until the share price is much higher.

As others have said, BRES has warrants outstanding at 4p, 6p and 8p. These are all currently 'in the money'. As recent RNS have announced, these warrants are being exercised. E.g Last warrant RNS disclosed that 7.5 million warrants at 4.5p were exercised raising £337, 500 for the company.

Seingred - don't disagree with much of that. All these decisions depend on what type of trader/investor you are and your reasons for buying in the first place, whether technical and/or fundamental. If you are going to buy and sell the waves (i.e a swing trader) then of course you need to excel at that. If you are more longer term position trader or investor (hence placing more emphasis on the fundamentals), then you need to be able to endure (and/or trade) those 14p to 7p retracements.

As I often say, this is not an exercise in synchronised swimming and its each to their own.

I have NO intention of selling in 2025 - unless we have some kind of black swan event. I'm here not because of share price movements and beliefs, but because I am genuinely excited by the project and the timeline that OMI have put out. I want to see what happens across the four projects and believe the share price will take care of itself. The biggest comfort here is the fact that OMI is cashed up for 18 months. I'm also comforted by the institutional shareholder base.

I'm also comforted by the amount of selling that is taking place right now. Sounds weird that, to be talking against my own holding, but the more sellers that are out now, the less of a drag they will be going forwards. That suits any LTH, but not shorter term traders.

Nice one KR - yes, should have gotten in earlier, but I think you have timed it well in terms of the JORC landing next week and then the DFS at the end of the month. Talk of NPV being around $1 billion and a sale being lined up, should drive sentiment from hereon. Wouldn't surprise me to see BRES breakout on Friday. It's very close to that 9.5p breakout level now.

PP - I know very well what you mean about those 5p placings. Thankfully, I bought most of my shares when it was '3p Mike'. BRES have already raised twice recently to clear the decks ahead of this newsflow. They don't have any operational costs at the moment as they have finished all work programmes. They also have a LOT of warrant monies coming in and the last tranche of DFC funds. So I can't see MR stopping the re-rate he has been talking about non stop for several months now by doing a placing straight after the DFS. The circs are completely different now to when they needed cash at the start of this journey.

That's right - they convert (i.e. pay) at the exercise price and can exercise at any time up until expiry.

Insane how easily it has been absorbed and the unprecedented amount of money/volume coming into BRES right now. Yes, large hands have been taking stock for several weeks now, and i've posted about this before. But whether we get a TR1 depends on how many large players are hoovering up and end up crossing the notification threshold.

Remember also that MR did say BRES has been getting significant interest, and are anticipating significant institutional interest post DFS!

Nah, quite relaxed with the whole situation. Have every confidence about next year being every bit as good as this year has been. As BG said in the presentation, good to have a "healthy correction". Better to have all the selling done now, before the next move up. That will make for a more powerful move up when it happens. I'm just not fussed whether it happens shortly, or takes a while to play out. GLA

It's a win win from these levels whether it's production or a sale! Each has it's advantages and disadvantages for shareholders.

Absolutely fantastic presentation by BG - although it's hard to not to be when you have four world class projects!

It's a reminder that Q1 2026 is going to be an absolute belter here with newsflow on all four projects!

I just hope that I am able to free up some funds to add more here before it moves again. So a prolonged boring consolidation would suit me just fine. Maybe I should join the trolls for a while😆

MR has said the plan is to get into Stage One production but they will consider a sale if the offer reflects the “true value”. I suspect all the talk of a sale is because they have received strong interest from various parties “batting away offers” and are expecting this to increase post DFS.

So all still very much to play for here. The run into Xmas could be something else once the herd arrives on that DFS RNS. All imo and GLA

Most commentators feel gold is early into a secular bull run. JP Morgan maintaining their 5000 target for next year. Once this current consolidation is done, then it will be some next leg up.

OMI is cashed up so doesn't need to worry about such matters right now. As BG has said, they just need to execute on their current plan (as per their current timeline) and both the gold price and share price will take care of themselves.

Stick it in BRES and thank me later!

Agreed. If so, we then have the rest of this week to hit 9p, before the JORC lands next week.

At this rate, we are going to breakout by Friday, well before the JORC lands!!! And if this dream scenario does happen, then how high do we then go on the actual JORC, followed by the DFS, when there's no overhead resistance.

Is there a better opportunity right now than BRES?

Nevermind running, think I need to lie down. GLA