Member Info for Metalhead25

Isn’t it great to have management taking the initiative and driving every possible avenue to generate value from Orom-Cross?

World class stuff again. It’s easy to get used to these sorts of results when we’re seeing them all the time but in reality these are quite special

Yes, that was actually a pretty bullish day here, in my view. Wider market conditions pushed us down well into the 7s but the value at BRES was too great to stay down there and we had a strong bounce back. If we can do that on the worst day the mining sector has seen for months we should be flying on a good day!

I agree, what a breath of fresh air (in the resource microcap market) to read an annual report which is a list of triumphs with no concerns about funding!

As for the SP, the present dip is affecting the whole mining sector. Not much MR can do about that

Well unless and until Brent breaks $75, oil is in a very entrenched 2 year downtrend. It will bounce about a bit but I wouldn’t worry about Jet2’s ability to secure favourable hedges at appropriate junctures!

I’m struggling to understand the obsession on here with the daily oil price. Does Jet2 really buy its fuel at rolling daily spot? Surely what matters is the medium to long term picture?

Hi RB, I don’t think the already repurchased warrants were convertible on a 10:1 basis. They were not exercised at all. They were just repurchased at a price of about 1 share per 10 warrants. That was possible at the time because the exercise price was higher than the share price. It wouldn’t work now. However, one thing that Artem and Patrick have talked about in relation to the remaining warrants is, if I recall correctly, that they can be exercised on a cashless basis. So in a normal warrant exercise the holder gives up a warrant and pays the exercise price in cash, and the company issues a share in return. I believe the concept is that the company forgives the cash payment but cancels a further warrant instead (or a further two warrants, or a further half a warrant, or whatever - depends how the maths works out)

Absolutely superb. The deposit is so much more than the DFS factors in

Hi RB. I understand the company has the warrants position very much under control. There are a few interviews in which Artem and Patrick has talked about this. I’m afraid I don’t have time to identify which ones

We’ll be held back by warrants until suddenly we’re not, which could happen at any time - either catalysed by news or not. When it happens there will be a quick run up and those not already in will be either locked out or forced to pay more. The way to play this in my view is to buy or hold as the case may be, relax and enjoy your Christmas and New Year, and then at some point in early 2026 you get a re-rate and you smile contentedly :-)

That $1.1 bn NPV is going to be knocking on for $2 bn once all this extra graphite is factored in!

I agree about a perfect storm in the New Year, with geopolitical catalysts and ongoing excellent drill results, plus the drag from the placing and warrant exercises starting to dissipate. We also have the wild card of new offtake announcements - a “big name” offtake could really see this fly upwards

Have a bit of patience, we are up over 100% in 9 months. The next leg up will come, I suspect rather soon

Although rather simplistic in comparison to some of the discussion below, I strongly suspect that for at least the next 6 months sentiment (and therefore the SP) will be driven in large part by the identity of the partner they announce for the LWP. If it’s Colin Bird again, I would anticipate significant irritation among holders. By contrast, if it were to be a mid cap (or better) I think the buzz from that would largely carry sentiment and the SP for quite some time, allowing Leon a bit more leeway on the ground. Personally I’d be happy with any partner (a) larger than we are, and (b) willing and able to progress very quickly. ACG Metals would be perfect, although I’ve no reason to suppose they’re even a candidate

Legalwolf. Whilst I agree with your post, I can’t allow your castigation of somebody else as a troll and de-ramper to pass without recalling that you were previously by far the worst troll and de-ramper this BB has ever known, ruining it as a shareholder discussion forum for about 18 months. You were at least 100 times worse than duster. Perhaps that’s what you mean when you call his attempts amateurish

I don’t agree with the poster who says it’s ugly. It does indeed show that the company’s copper operations didn’t perform very well in FY2025 but we already knew that. If you read it carefully, focussing on the new information, we seem to have turned a corner and with lots of exciting stuff coming up in the next few months

It has been dressed up in a positive way with most of the focus placed on next year, but I think the 2025 miss is extremely disappointing. At the Investor Meet Company presentation in the summer the very strong impression was given that guidance had been set low meaning a likely strong beat. To miss even that low guidance (and last year’s revenue figure) is not good. Projections for next year sound good but this is the same company that has just failed to deliver on the projections they made and reiterated 6 months ago

All looking very positive indeed. Particularly good news that engagement with the US government is back up and running and progressing well

AAZ has decent assets but the SP there is already inflated and an acquisition would have required a further premium to be paid. There will be better deals available elsewhere. Today’s RNS should free up the ACG share price to rise as the market has seemed nervous about a deal for AAZ these past couple of weeks

No discount, no warrants. We have turned a corner, even if nobody has told the SP yet! Happy