Member Info for PaulFG

Https://www.youtube.com/watch?v=CYpwV4lfw3w

I mean yes, it's a nice little RNS but it falls into the category: 'we believe...', 'it could be that...', 'there's potential that...', 'if, then...'

Prefer to see hard evidence from drilling...but yeah ok, lets throw that into the increasing amount of follow-ups that need to be performed on PM - jeepers I hope they do get that grant money, and soon.

Okay we're back where we were prior to License updates - not actually surprised.

End of Q1 PING go/no-go decision will be the start of a gradual rerate as we start to move towards possible production.

Our Chairman Greg Martyr and Country Manager Iranga Dunuwille met in Colombo today with Ranjith Premasiri, the new Director General of the mines bureau (GSMB), where they discussed addressing all steps needed to get the project into construction as soon as possible.

More meetings planned over the two weeks Greg is in #SriLanka, including at project site.

"In 1952, the US critical mineral stockpile was worth $42B (inflation-adjusted). Today, it’s worth $888M. The US has sold ~76Mlbs of tungsten alone during that timeframe.

I bet the US defense department is structurally short tungsten after decades of zero wars, an oversupplied market, and no incentive to stockpile after WWII. Historically, the US could tap domestic mines for more tungsten; if that didn’t work, they’d import some from China.

But both of those options are gone. The US has severely underinvested in tungsten production, so it can’t meet incremental stockpile demands at current WO3 spot prices. And China, as we’ve discussed, will likely ban more, not fewer, critical minerals. "

I think it's limited funds in the market and they're chasing sexier things than Graphite.

But as Rick Rule says you buy resources when they're out of favour that the world needs going forward (Tungsten is definitely one for me in that category) Graphite may not be out of favour enough to meet his criteria but I think the market is looking and thinking I've time to get into BRES it'll be H2 before anything meaningful is going to happen...opportunity cost,

Would be unsurprised to see this drift back to 4p, bizarrely!!! Not a reflection on BRES but just that's the way the market seems to behave right now, moving on to the next headline somewhere else. You would have thought yesterday's news would have put us in the 4.80 - 5.20p range.

It all seems to be about opportunity costs at the moment.

"Conclusion: Stalking A Capital-Starved Industry

Tungsten has all the ingredients for a massive supply/demand imbalance over the next few years. Multiple demand drivers from military/defense, semiconductors/robotics, and EVs are jockeying for more tungsten supply.

At the same time, the industry has been oversupplied for nearly a decade, and there’s no incentive to bring new capacity online at the current price. Plus, there’s the growing concern that China, the world’s largest producer, could turn off its supply at any point in the name of Resource Nationalism.

The result is an industry with a potential 19,000-ton deficit or 16% of total demand. History shows that when that happens, tungsten prices skyrocket, the miners make tons of money, and assets/deposits trade for 20x+ earnings.

Nobody’s talking about, looking at, or even thinking about tungsten. Reading this Industry Primer puts you in the top 1% of investors knowledgeable about tungsten. All that’s left is to sit and wait for the market to give us our fat pitch price."

"We’re approaching an inflection point in tungsten supply. The US will quickly run out of stockpiled tungsten and flip from net seller to buyer over the next 12-18 months.

Moreover, there is a non-zero probability of China banning tungsten supply from global markets, just like it did germanium and gallium earlier this year.

And if I’m honest, it’s a win-win for China if they do. They’ve spent decades building domestic supply chains from raw material production to smelting and refining. The US hasn’t.

We could see 200-400% price increases if China restricts tungsten supply, as Ronald Limbaugh explained in his book Tungsten in Peace & War "

Https://macro-ops.com/an-industry-primer-on-tungsten/

Tungsten has everything we want in a commodity thesis:

Multiple accelerating demand drivers

Bombed-out sentiment

Lack of new supply

Potential for massive supply/demand imbalance

Very nice map that

@Paulie re no interview and more news, I wondered the same thing.

When asked, recently, by the SR guys (admittedly in a private conversation) OF indicated there were no current plans to raise, in response to some private presentations to potential investors and if they wanted stock they'd have to buy in the open market.

Not sure how much funds they have remaining but pretty sure they've spent bugger all on Pilot Mountain apart from whatever it's cost to put the grant applications together.

OF appears to be spending any monies on value creating triggers (aka recent Garfield work) if they get US grant funding for further PM work it leaves any remaining funds to be pointed at Garfield (or something equally as good).

I expect to hear pretty soon that OF is doing a roadshow to US investors that'll hopefully gather further interest (most probably after we hear about possible US grants). I'd also expect to hear in the next few months about the exercise of warrants bring in further funds.

This is a classy asset, group of assets, and I don't expect any silly decisions about dilution as this company starts to distinguish itself from other market participants.

A timely reminder of what's starting to happen in the Natural resource space, BRES is a good example.

https://www.youtube.com/watch?v=acvq0LxIYok

“Quality Projects Are Being Financed and Starting to Bifurcate” says Pro Mining Investor David Erfle

Let's see how this news seeps-in - the market reaction can lag genuine good news and there's limited fresh inflows into the resource sector currently, and graphite ain't one of the sexy resources right now.

There is a scenario whereby the market digests the news with the overriding sentiment that we're looking at end of 2024 before DFS completion and a true rerating triggering event occurs which will limit fresh market inflows - ofc then Mike could recruit another strategic partner or the existing ones continue to add funds...

Yes I am!

I've a wad of cash landing next week and was hoping the price would continue to languish just for another week.

I can only hope now there'll be some profit taking based on the astute buying last week, because people can't read a financial statement and understand it's historical, that'll weigh on the rerate.

I know it sounds like madness, but I'm hoping fresh funds don't flow in, although by the 3rd DFC payment I think it's almost impossible that BRES is not noticed by a wider group of investors...

Hey-ho, sigh...

Raise with very impressive premium.. lets see how the market likes it.

@levi CB says a lot on these interviews without actually saying much. Or at least much of anything new. But I guess exploration is a slow process.

I haven't been that impressed with his negotiation abilities in the past neither.

World needs copper but markets aren't paying up for land packages. CB seems to staking potential success on grabbing land hopefully close to another outfit that does find something.

Not sure passive plays are rewarded in this market. But with FQM perhaps AFP isn't that passive.

Really don't understand the motivation, TCM, of the constant (and sometimes utterly bizarre) negative commentary. Has no impact on the sp and must occupy a significant portion of your day. You'd be better off chanting or something.

O&G is not trendy at the moment - this is a tremendous opportunity if it can survive, PING confirm the JV by end of Q1 (possibly/likely drift a little into Q2). But there are so many opportunities in the market at the moment the only real way these things are going to lift (save getting into production and being revenue generating) would be new money retail & Institutions returning, realising that the valuations here are unmatched elsewhere in the market. Family offices have been redeeming from the Funds, forcing them to sell never mind fresh investments.

This isn't going to happen overnight, traditional sp triggers no longer seem to work and I fear we're going to see acquisitions with small, if any, premia.