Member Info for nc10g09

Keyboard your comment from 11am contradicts your own point.... I'll leave you to flounder around in your own mistakes

See also slide 'MSP Full Accreditation' from most recent investor presentation.

Funding solution infographic includes DFC, MSP, other tier 1 banks and other funds. Nothing whatsoever suggests DFC were ever considered to be the sole funder for Orom Cross

My bad was published before the AR. However your text says 'may' and it's been clear from Mike's comments throughout that DFC would never provide the full solution

Happy to prove you wrong, here's the text from the LOI RNS which was published after the text below:

"Blencowe Resources Plc (LSE: BRES) is pleased to announce it has received a formal Letter of Interest ("LOI") from the US International Development Finance Corporation ("DFC") in which the DFC has indicated its willingness to participate in debt funding for the Orom-Cross graphite project ("Orom-Cross or the "Project") in Uganda, subject to all necessary due diligence. This comes following recent discussions with DFC project funding division and follows the 2023 agreement with the DFC's technical assistance division, who have already entered into a US$5 million Technical Assistance Grant ("TAG")."

Participate does not = full funding. Should be easy enough to understand for you

Keyboard you are incorrect about the DFC, they have signed a LOI to be the LEADING debt provider, not full. The remaining debt/equity package and partners was yet to be determined until this week when we learnt the AFC were interested in both the debt/equity portions, potentially providing a full funding solution when combined with the DFC as lead provider. This can still be combined with additional banks (debt) or strategic investors (equity) in terms of the final funding solution. Your insistence that the DFC is off the table is your opinion and not grounded in any facts whatsoever. Suggest you do some more research/homework before coming in so strongly while being inaccurate yourself

Keyboard I agree on offtakes and Mike has stated these are a key prerequisite for the DFS so hopefully we see movement on that front soon. I think you are being premature in writing off the DFC but any worries there definitely lessened via the AFCs involvement

He said recently he had spoken to DFC representatives at Indaba who had signaled continued support along with the fact that DFC was Trump's baby. Mike has name-dropped the AFC for at least 12-18 months so it's no surprise they are now coming on board. Trumps a nutjob so there should be some caution about the path ahead but not sure what else Mike can say/do in the current circumstances

Mike has also insinuated a full funding solution (e.g. for scale up in phase 2 and 3) will take at least a year, so staggering the DFS release for each project phase would make zero sense considering it is being created holistically

They are not seperate DFS' for the purpose of publication, only for each phase of the project. The 'DFS' encompasses all three and will be published mid-year. Mike is active in terms of interviews, if you are interested in investing then go and watch them if you need to hear it from the horses mouth. More likely is your bed wetting over funding has been tackled and now you are moving the goalposts and trying to create ambiguity where there is none

Here he is haha, nothing to say about today's RNS considering it's related to your favourite topic of funding?

DFS will be completed mid year and will incorporate all three stages of the project into one document, there is nothing ambiguous about this or the timeline. Drilling is the last major element

That's now two huge finance corporations who want to fund Orom Cross with AFC and DFC, very interesting to see that AFC are keen to fund phase one - if sorted quickly post DFS then production in 2026 now looks very tangible

This is a really excellent watch btw, highly recommend it. Mike is building a superb company here

Good thing is BRES still has 100% of Orom Cross now, negotiating from a stronger position for full project funding

My understanding is the DFS is fully funded but the period of going concern runs beyond that (e.g H225) for which funding is not in place. Options for that funding should be broader on the back of the DFS. Maybe the long awaited strategic investor will show his head haha (doubtful). Mike's financial management is excellent overall, we are almost at DFS completion with about as little dilution as pre revenue investors could hope for. Let's see what the year has in store but I still believe the value opportunity here is unmatched across all UK junior miners - LW won't have too much longer to time his entry at least

Mike said this project could be worth 80m a year at full capacity - nowhere near there yet obviously but if we keep progressing down this path it could be a huge money spinner for BRES

Last major piece of the DFS puzzle, expecting big numbers when we get there!

Https://x.com/GraphiteHub/status/1871859129595347012?t=NWFL0wzHlIatS9rWI9BX7A&s=19

Hopefully 2025 sees a proper shift towards the sector

Only one person making noise here, totally uninformed rubbish. Have a good day

Moronic post, DFS is fully funded and will be completed within 6 months. Plenty of other things happening in the meantime, Mike continues to do a great job overall

Great thread metal, I seem to remember Mike in an interview saying that he's aiming to bring production costs down even further in the DFS (below $400/ton is in my head but not 100% where this is coming from). I would imagine SAFELOOP will scale up over time and would be a gradual increase up to the 100,000 tpa bur agree the market doesn't seem to appreciate this is an additional income stream to the SPG strategy rather than replacing it in any way. I am expecting some knockout numbers once we get to the DFS, SP remains a mystery in the meantime