Member Info for PaulFG

I'm not concerned - once we start selling gold, cash will flood in.

Would like to see them targeting the exploration a little better though.

Looks like we burnt through about $29m in cash during Q1, leaving a balance of $16m odd at end of MARCH - ouch!

I know they said they're stockpiling the mined ore but they need to get processing and selling gold!

"Outlook for 2025There has been significant operational progress since the conclusion of Q1 2025. With continued up time in mine development rates and processing throughput. We continue to target a run rate production of 300t/d in Q4 2025. During this commissioning phase and as a result of promising operational progress the Company expects full year gold production to be in the range of 5 – 20koz; a wide range at this stage due to the nature of the trial mining and commissioning year. This for example entails stopping operations while we install the final automated electrical systems, water system and the phase 2 flotation system. There is however potential to narrow this guidance range as we progress operations through the remainder of the year. Once full ramp up is achieved, the Company will provide its outlook for the full year run rate in 2026."

"...towards the end of the Quarter we have been achieving rates of up to 220t/d of ore, which is being stockpiled. We are now in the final stages of agreeing mining KPIs with our contractor, Thyssen to support feeding the plant with enough ore to allow 300t/day processing capacity by the end of the year."

That's what I was looking for.

Good point @Tiggrr I may shoot him an email asking him to provide a better update on PFS progress.

If a Govt agency steps in to offer financing to production that would eliminate the necessity to carry out a DFS.

Yup let's see the update tomorrow and most importantly the forward looking statement.

Will be interesting to see what the cash depletion looks like too.

Good question @ATDS - I didn't, because I've learned that anything vaguely critical or awkward gets dropped so it's not worth the effort.

All these paid-for-interviewers have to do is spend 10 mins on here /telegram and they'll know what we're interested in hearing about - but they don't, they're lazy and want to get paid for mediocre work. In fairness I don't expect more from them anyway.

It's a shame we're not having better luck on the exploration side, although obviously they're building up a good bank of data on the geology.

At the same time I think we're being priced as a gold producer anyway, so the other stuff is almost there for free.

Absolutely nothing new in that TMS piece - no questions around PFS - hardly hard-hitting at all. More research by members here.

Also I think OF needs to edit his boasts about GMET being potentially the only US based Tungsten producer:

"American Tungsten Ltd. (CSE: TUNG | OTCQB: DEMRF) is a Canadian exploration company focused on advancing high-grade magnetite mineral properties. Its flagship asset, the IMA Mine Project in Idaho, is a past-producing tungsten property with significant historical output. With an option to secure 100% ownership, American Tungsten is strategically positioned to capitalize on the growing demand for critical minerals."

Doubtless there's more than enough room for both companies - if OF really wants to corner the US Tungsten why not bid for TUNG, plus get the Canadian listing - though as OF has indicated on tweets a full US listing would be the best thing for shareholders.

Drill Garfield.

Thanks Tigrrr, good to have the confirmation.

They must have a very healthy cash balance.

Come on Oliver do some drilling at Garfield!

I think it's almost impossible to gauge.

I tend to agree with Archer's assumption that Rio will have no interest maintaining a minority share and i think the most likely outcome will be for them to bid.

That price premium is anyone's guess depending on a number of factors not least the DFS, geopolitics and commodity prices.

What I don't think many people appreciate is just how valuable rutile is, most Titanium miners mine ilmenite to produce Titanium but rutile is far more valuable and pure for its production. And what we have here is the largest rutile deposit in the world, i almost don't care about he graphite (not quite). I can't imagine Rio don't want full control over such a prize.

So what will they pay? I can't imagine the likes of Rick Rule topped up significantly at 40p for a 30% return so if I were to guess, and why I've been buying myself at the current price level is for at least a bag on a takeover scenario, more if we develop or put it up for sale in the market or if another miner emerges to counterbid Rio.

Either way, imo, it's a bit of a no brain buy right now, once we don't experience any unforeseen local issues.

Not a bad return ehy Tigrrr? Assuming you haven't sold any.

To be clear - they have the bullet point in the latest FOCUS IR summary of the RNS indicating that they are financed to DFS completion - obviously it would still be great to have the final tranches from the DFC.

I think because of past missteps - primarily that whole ruddy Strategic investor coming in at 5p, that went on and on, and was reiterated by Mike saying that regardless of SP that would be the level of the investment - has damaged credibility and sentiment.

The delay and further delays on the DFS, despite good reasons has also damaged credibility.

Like Merchantbanker these issues do not overly concern me, especially when I see progress in other areas that'll significantly add to the long term value of the project. However, sentiment and SP is currently being dictated by retail - a fickle mistress at the best of times - so we need to see something that will enable retail see that the completion of the DFS is finally in sight.

#BRES🎥 COO Iain Wearing from site:

“One of our latest holes at the Western Limb hit #Graphite from surface — all the way down to 31m and still going.”

✅ 70 holes drilled so far

✅ Consistent high-grade results

✅ Every hole delivering

This is why we believe in Orom-Cross.

Yes interesting. And a good macro perspective on the global state of the rare earth minerals.

@spank - yes i noted the same thing.

Https://youtu.be/uD6e4o0GF2c?si=OMNrSoCn7vIfdwhO

Interesting price action in Canada tonight, up nearly 10%.

All seemed to kick off at 1pm their time, not sure what the catalyst was.

Worth bearing in mind we're in the 'sell in May 'n go away' time of the year too.

Personally, I've never been a bottom nor a top picker - impossible for me to predict. I'm very much of the opinion you scale in and scale out, you never know when or what the next headline will be.

E.G., the EU is currently looking to provide grant funding to critical metals projects based outside of the EU, having made that announcement recently for EU based projects, and my understanding is (I think Archer mentioned it) that BRES have applied for this round. Looking at what they did to get SAFELOOP certification I have to think they stand a good chance of landing something.

I suspect you're not alone Bobbust. Here's hoping you're all correct.

All could be academic with the another headline from the w/house.