RE: DFS Optimisation - Q218 May 2026 16:04
This is shaping up to be a monster - listen to the interview again and you will see the glowing terms in which MR talked about the project itself and its scale. When discussing today's news, it's as ebullient as I have heard him. As he said, BRES has basically tripled the Life of Mine! ( Yes, I know they need to infill drill to convert the two new deposits into reserves, but that's a formality really.) The sheer scale of OC is off the charts - unrivalled!
I know it will take more patience, but I am hoping that by optimising the JORC and the DFS, BRES will in turn be able to optimise the eventual funding deal that they get, which will benefit LTH even more. Short term (watching paint dry) kind of pain for long term gain!
Also, I remain of the view that the market IS very much being impacted by the war. There are signs of this, most notably in the bond market.
And so I am also starting to think that I'd rather not have funding news just now. It will be a big announcement when it lands - the biggest BRES has made to date - and I would rather have it announced in a buoyant market myself, to "optimise" the re-rate we get from it!
So all in all, I am firmly of the view that I want funding to be announced against the strongest possible backdrop in terms of JORC, DFS, offtake, Iran war and market sentiment. Which means not right now!!!