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The DFC could still fund multiple projects to help secure US supply chain ex-china dependent - it is risky to rely just on one company.

I don't think that is an issue for the BRES sp fall - I was more inclined to think the tariffs reversal below was an issue as well as obviously the war.

https://greenstocksresearch.com/itc-blocks-graphite-tariffs-chinese-imports/

It was interesting to me that in the march 2026 investor presentation slide 3 they were talking about western offtakes seeking ex-china supply and a western shift underway led by USA - This would indicate to me the company is still targeting a western financing solution.

The npv / capex ratio is elite. Surely only a matter of time before this things get financed.

DYOR

I want BRES to do well as much as everyone here but if that were the case why conduct the drilling program in the first place since that could always happen.

Personally I am disappointed now we do not have further news on the drilling program. No getting around that.

I think the US tariffs reversal on AAM may have had an impact as well as the war on SP.

Ultimately still comes down to the funding and further derisking the project. It has still only been a few months since the DFS so not a surprised funding not signed off yet. I'd be concerned if we have no news by June and certainly July.

I must admit regarding financing..I was thinking dfs done in December than companies financial year begins April so was expecting financing to get announced in April or May....budgets get signed off by organisations looking to finance before start of new financial year than announced april / may.

But I am relatively new to this game.

Could we have a situation where BTR secured small offtake from BRES and still Western interest on financing? if BTR only secured a small portion of offtake that could still leave room for a western supply chain narrative?

My initial thoughts on this were positive though tbh.

Let's see..p1 capex is only small...From the interview, my reading was there were potential offers for a single party for p1 + p2 and several for p1 only.

Ultimately only needs interest from more than one party to have leverage and that should in theory hurry up the process which means we get funding in h1 - likely q2.

But let's face it none of us can be completely sure.

If the delay with the party - let's assume dfc - for p1 + p2 is only slight, it is not delaying the project massively and we are confident at the end of the negotiations they sign off p1 + p2 than wait - if not than move onto someone willing to do p1 - especially if it means minimual dilution and get cracking now.

That would be my way of approaching things if I was management.

The interview with MR was inteteresting.

Sounds like regarding funding p1 + p2 is in discussions with one party but if that takes too long they'll do p1 only with other parties ready to move.

That was my interpretation anyway. GLA.

Thanks computer909.

FortunaFavet - I agree about the funding changing the profile of bres from junior explorer to funded producer - even if the initial funding was 'only' P1.

Also, P1 funding is so small we should have little to no dilution.

Do we know how many warrants there are outstanding? They used to announce it which tbh I am glad that do not but since than I am not sure how to know how many are getting cleared / how many outstanding etc.

In 48 hours maybe he'll have started another war or said it's just the beginning...never can tell with the Don acting as a mafia boss.

let's hope he is right - and we get funding sorted for p1.

Thanks FortunaFavet - definitely sound logic there.

Hi fortunafavet - I like your posts but I must admit I was thinking jorc upgrade for beehive first and than funding to follow once jorc upgrade for beehive is in.

any reason you think p1 funding comes in before jorc upgrade for beehive? Am I missing something.

Also I am with you - I think from a recent interview with Mike R we are looking at p1 funding now as opposed to p1 + p2 funding. Unless Mike is managing expectations and thinks it could still come in one go.

Is he definitely in the US?

Wonder if we get an rns later this week on drilling results? We normally get one rns a week with bres.

Great to see the SP go up but it's the upcoming catalysts that really excite me. We got further drilling results, JORC upgrade -likely extending life of mine - and the biggie - Funding - and the wildcard - sale.

All this on a mkt cap approx 8% of NPV with very reasonable capex to NPV ratio - elite really.

As this thing goes further the project gets more and more derisked which will naturally see the SP go up.

Plenty of good stuff coming up.

£62mp gbp market cap...$84.61m in usd..npv...US$1.087 Billion..8.3% of NPV. Still objectively very cheap as a post dis pre funding stock.

The npv - capex ratio is elite. Obviously there are risks with things like location. But those numbers imo stil scream undervalued.

#BRES “Without #Graphite there are no lithium batteries, no energy storage, no EVs”

🎙️CEO Mike Ralston on why Orom-Cross ranks high on global critical-minerals lists 🇺🇸🇪🇺🇬🇧

🔹Project backed by US, EU & UK initiatives

🔹All fundamentals for success

I was actually more focused on lithium stocks and I stumbled across this tweet randomly and this got my interest in the company.TBH I never actually had heard of BRES since I am relatively new to investing. I did research with chatgbt and thought prior to the DFS it was undervalued. I still think it is :)

Exactly more important points.

The SP is doing well. We got some genuinely exciting catalysts to come at a time when the critical minerals narrative is strengthening. We got a tremendous asset.

Let us not worry about what we can or can 't say in mainstream society - focus on what we can control.

Adding life of years to the mine may not add value to the NPV - it may do tbh I don't know - but it will help with funding negotiations and help attract funders and make orom-cross more attractive this way if they know the life of mine is doubling for example.