Member Info for Legalwolf

I think June is unrealistic and don't think MR has set that expectation at all. That's just setting yourselves up for an inevitable disappointment. I also think it's unrealistic to talk in terms of which month, when it comes to something like this. I would stick to talking in terms of which Quarter. With several interested parties doing due diligence, I think we can expect some concrete developments by Q3. That could be early Q3, or it could be late Q3.

People can mislead themselves into thinking they are waiting for P1 production and 2027. Therefore, delayed funding means delayed P1 production.

This, imho, is a fallacy. What we are waiting for is for the shares to re-rate. That re-rate will happen on "anticipation" of P1 production, which "anticipation" will commence if or when we get the funding for P1, which funding news has a good chance of landing within the next few months.

So we could be literally a few months away from a major re-rating event.

Usually this is a time to buy, especially if the shares are still bargain basement cheap. All imho

I don't think there are too many with a world class resource, supported by the DFC, post DFS and with $1.2 billion NPV? If there are, feel free to drop the list so we can utilise it for research purposes?

Also, the natural flake graphite market IS very much facing a supply deficit and longer term the outlook is that there will be a supply crisis if there is not a drastic scale up in production. More generally, China controls 90% of supply, and has shown recently its willingness to restrict supply of critical minerals when it suits it to do so, e.g. in retaliation for Trump tariffs. China is also competing very hard, and with emerging success, against western car makers in the EV market. Sales of Chinese EV vehicles have dramatically improved in the UK, capturing a record breaking share of the market here and elsewhere. Will they be as willing to provide overseas competitors with refined Graphite?

The auto industry continues to warn about a critical lack of graphite production outside of China. This is why MR is trying to get BRES into production in 2027, so that it will get "first mover advantage" going into any supply crunch.

Each to their own, but I think anyone selling these cheap is going to rue the day they did so. Anything below 10p is crazy value, and the longer we trade at these levels, the more shares below 10p that will steadily transfer into stickier hands. You can see that in the volume that comes in at the lows in this trading range. As we approach a critical funding milestone, it's surely the time to accumulate as many as you can for as cheaply as you can get them below 10p. Is waiting until Q3 really that long a wait?

Can't be many more shares left below 20p?

I listened to the interview again and didn't detect anything negative in either MR's demeanour or reply when asked where funding is at. He seems very confident in securing it, but it's another case of BRES overpromising on timescales. Q1 was always unrealistic, and with the subsequent JORC upgrade and DFS optimisation, Q2 also looks unrealistic now.

However, we should be moving from data room to term sheets by Q3 you would think?

Part of me also wonders whether P1 might be actually be the more difficult funding package to get over the line, because we already have Tier 1 debt funding providers (such as DFC/AFC) lined up for P2? This might explain MR's comments about continuing with P2 debt financing in the background.

But so long as we maintain P1 production for 2027, I am not too fussed about exactly when in H2 of 2026 we get P1 funding news. I believe P1 funding will re-rate us of itself, as it will effectively signal 'GO, GO, GO' for the wider Orom Cross project, with the P2 building blocks falling into place alongside P1 development blocks.

So getting P1 over the line is key - and we are hopefully a few months away now from a P1 deal being done. It would be so typical of retail to lose patience within months of the biggest announcement in the company's history! All imo and dyor

24/25p is a key level for me. I do think OMI is one big RNS away from smashing it though as lots of shares below that price have been taken out of the market already.

Will it be Apta?

Will it be El P? probably not

Will it be Pepas West?

Will it be Pepas South? probably not

Will it be El Cedro?

That's right Karl - though I don't know much about Columbian politics. However, having a pro mining and pro US party in power can only be bullish for OMI.

Do we not need to factor in that the DFS has only just been optimised. I struggle to see how either party could have closed funding by now when they knew that important upgrades were pending re the JORC and DFS. These changed (or were likely to change) a lot of the key numbers and metrics that funders would need to know. MR pretty much said as much midway through the interview - "it (i.e. optimised DFS) definitely impacts funding".

In terms of saying how many parties are interested, we don't know how that fits into the discussions they are having with these parties. I note the comment that MR made along the lines of: "we don't want to frighten anybody away by seeming too keen or too desperate" and so I wonder if publicly saying how many parties are interested would go down well in this regard. We also don't know exactly what role WaterBorne Capital might be playing here, and whether they would want such information made public.

Overall, I thought the interview was bullish enough in the sense that MR confirmed that P2 debt funding discussions are also continuing in the background, but they are very keen to get P1 up and away next year to get "first mover advantage". So now that DFS and JORC are done, and given the timeline that BRES are working towards, maybe interested parties will be expected to play their cards, and maybe BRES might even put a deadline for tenders?

He probably reasoned that newsflow has been slow in H1 and an interview was a good way of filling in some gaps. As tired as it was, he did manage to convey that newsflow will pick up in H2. We know this ourselves because of the following:

1) The El P assays have started to come through - so that RNS will land at some point soon.

2) The Rig has returned to Pepas West.

3) The Rig has been turning at Apta.

4) Within the next month or so, a Rig will arrive at El Cedro. The Big One!

We know the Columbian lab has been providing a much quicker turnaround, and so I would expect that from July onwards, the newsflow will be landing on a regular basis until the end of the year. By regular, I mean we will get a one or two RNS each month across the Anza projects in particular.

So I reckon June will be the last month to get these cheap, and I am not surprised it has bounced once more off the lows. It signals to me that folk are accumulating for what hopefully will be a big 6 months. The other signal is that we continue to be trolled - with another trolling account setup today!!!

Just as we looked like breaking that 8.7p level, we've had a large player(s) unload heavily today it seems. Is it manipulation and/or just warrant selling and/or a retest of the break? No idea, but will now have to see if some demand comes in to take us back above the level, or will we need to retest lower down!

I totally agree Rob - folk should really know better by now. But it doesn't matter how many times we plead with folk not to engage with trolls, they just don't seem to be able to stop doing so. Don't know what else to do.

It's every day that one or other trolling account just puts out the bait and gets a response. It's beyond a joke now.

Is this account legit or was it setup to troll Napthman? The way folk are engaging with it, I thought i'd better check?

Regarding the warrants outstanding, we had about 23 million left at 5p or below. That was in Janaury 2026. Since then we have traded about 250 million plus shares, so this figure will have come down further.

Anyway, does anyone know if any institutions that are introduced by Cavendish could make an offer to existing warrant holders and build positions that way? I've come across off market deals being done between large holders wanting exits, and new institutions wanting in.

So just wondering that if you are an institution wanting to take a large stake in BRES, but don't want to buy on market because you won't get the best prices,, whether you might approach the largest warrant holders (like RAB) and do an offmarket deal instead?

I think it's fair to observe that during some of the occasions when those warrants were given, it was extremely difficult for most juniors to raise capital. There were some massively discounted placings all over the place. So, whilst RAB (and others) took those warrants, the impact of which lives on, they did also support BRES through some tough market conditions. Without all those raises, the project would likely have stalled. Graphite was not in vogue either - still isn't. As retail, we will never really be able to say whether BOD could have done better when it came to raising that capital, as we aren't privy to all the facts and realities they had to contend with.

But it's no longer a junior with a begging bowl, but a cashed up company with a $1.25 billion NPV that is looking to go into development in 2027. This should mean that the institutions that come on board now will be investing into and supporting share price growth, rather than looking to ride out with warrants.

Yeah, it's funny that I was thinking as I listened to the interview that BG seemed tired. I guess we forget that he often has to do these interviews in the early hours and is not a young man either.

If we strike at El Cedro, it could well be the single biggest news event in the company's history. At the moment, we dare not mention Collective Mining, but after any strike at El Cedro, the comparisons with Collective will NOT stop. We WILL then be the nearology play for Collective, and as we have previously covered, El Cedro looks a far bigger project than Collective's Apollo project. In fact, expect the comparisons to start as soon as the Rig arrives at El Cedro.

Incredibly exciting period coming up. BG knows he's going to be chucking good gold results at us once more from Apta, Pepas West and hopefully El Cedro, with a comprehensive update from El P as well.

Just hope the macro picture is kind to us during this incredibly rich period in H2.

He also sounds very confident that APTA will be a resource by the end of the year.

Didn't mention Pepas South though - so assuming they haven't found anything of interest there? Unless he's going to surprise us or they are still waiting for assays?

Some big ticket items landing here next month? I'm thinking El P RNS and El Cedro drilling commencing - did BG describe that as "the big one"?

We need to remember that the reaction to news is not always to be measured from when the RNS lands. I would argue that this approach is misleading and is not how the market works. For many market participants, and I reckon most of the "smart money", they will react on "anticipation" of the news i.e. buy or sell before 'the news' lands. I am sure many of us buy our shares well ahead of expected newsflow.

Viewed this like, this today's news (i.e. upgraded DFS) has been anticipated since 18 May, when BRES first announced it. So what has been the reaction since then?

Well, we were trading at ~7.5p before we learned about the DFS optimisation. Since then, we have retested and once more broken through a key resistance level (at ~8.7p). IF this level now holds as support, then we have a new, and higher floor, from which to once again move into double figures over the coming days, weeks and months.

Now I don't know about you, but to me, if this level holds, and so far it looks like doing just that, then this is exactly the kind of reaction that I would wish for as LTH looking to hold for bigger gains. I now expect stock in the upper 8s and lower 9s to be accumulated next.

Again, you have to "anticipate" what is coming down the track here in the coming months:

1) Offtake news - hugely encouraging updates around this in recent RNSs.

2) "SEVERAL" parties in NDA with BRES over P1 funding at the project level.

3) Diligence pathways underway for P2 debt funding - including the DFC!

4) Institutional buying - judging by some of the trades going through, it might already have commenced!

Within the next month, and maybe even as early as next week, we are likely to get Cavendish's intiating research note! With today's upgraded DFS, what price targets will they set? All imo and dyor

Fantastic RNS - not only do we have the uplift in NPV but we also maintain the capex. The ducks are clearly lining up in the background re funding AND offtake. With several interested parties having signed NDA and going through due diligence, this should enable BRES to extract the best deal for P1 funding at the project level.

Now if/when Cavendish can get some institutions onboard we should have some solid support for the share price. The scramble for shares below 10p has already commenced with large trades going through.

Another rather pathetic de-ramp from our resident Troll Torno! Buy the friggin shares man as you ain’t getting 7p and will soon miss out on sub 10p.

I’m generally looking very closely at which posters on here are constantly giving Element attention. I’ve even been wondering about naps. If the doc wasn’t a LTH here, I would even have doubted him tbh.

It’s a classic troll tactic to have more than one account playing good cop and bad cop in tandem. This way they are able to hog the bb on a daily basis. If no genuine posters take the bait, they use one of their alias accounts to slag themselves off and continue the focus on themselves.

So look at those who keep on replying to Element or mentioning him even if they are being negative about him. You never know, you might just rumble another troll!