Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
SPG results (confirming battery grade product) are coming soon, once confirmed would expect some offtake agreements to be finalised considering the high interest from various parties , latest interviews/RNS show Mike working with DFC on full funding package after decision to mine - there's 2 maybe 3 potential pieces of big news which should arrive long before DFS completion (which I am also hoping, maybe naively, to arrive closer to the middle of 2024 rather than the end)
Legalwolf, what else were they supposed to do re: the DFC?? The ball was in DFC's court and everyone had to wait for them to sign it off, which is now done. Appreciate the SP drop was frustrating but BRES had nothing to share so I don't see how they handled it poorly
Some chunky trades going through but clearly this is all dependent on funding, until then we are seemingly just going to float around in the 4-6p zone. However if DFC gets confirmed or even superceded by a Chinese offer then I expect we go north of 10p quite quickly
Don't the offtakers tend to carry out their own testing on samples as well? For me the DFC is the elephant in the room, if we get offtakers from some of the chinese firms then I struggle to see how they fit into the picture
Fair questions, this is from the recent RNS:
The net proceeds of the Placing will be used to maintain momentum on the Definitive Feasibility Study ("DFS") work, which has been underway since start of 2023, and is managed by leading firm CPC Engineering.
The Company recently announced it had passed the key screening hurdles by the Development Finance Corporation ("DFC") regarding a US$4.5M Technical Assistance Grant ("TAG") to fund 50% of the DFS. The Company expects to complete the process of obtaining the TAG with DFC over the coming weeks and then be able to draw down funds for the DFS work.
So with matched funding (as an example scenario) that gives us 1.2 out of the 5 needed. If that takes us all the way to met test results then perhaps no dilution will be required. But how far that will get us is unclear and where the rest is coming from I agree is also unknown. I still think on the asset alone BRES should have a market cap closer to 30m/approx 15p per share
Maybe a JV on the back of met test results? That's a while away though, the recent raise Mike said will give enough to kickstart the DFS once DFC funding is confirmed as the DFC money will come in tranches. Otherwise we need to raise again but tbh I'm not that fussed, with the US and China already sniffing around I'm 95% sure this either gets bought out or we go all the way to production - either one will result in a SP many multiples than what it is today so I'll just sit and wait in the meantime
BRES expecting funding news before Xmas (at project level so no share dilution), most exciting AIM graphite play for me - 14m market cap with PFS done, 21 year mining license, offtake interest from China, huge resource, low share float.....