Member Info for Pauliewonder

Got something very similar from SS. It’s clear that the market has misinterpreted the email. Would expect the share price to recover from here as the drop was completely not warranted. We are actually in a substantially better position than we were in September 2023

Just had response from the company's advisers: "The accounts are for September End - subsequent to this period the DFC have made a $1M payment twice, there are healthy levels of cash and another $1m payment expected soon.

Absolutely not going to market for retail raising through placing, institutional only and not at these levels."

The RNS outlines the risks, as Metalhead refers to. Anyone with half a brain knows that a ore0revenue mining company with no income from activities (aside from grants) will require funding of some sort. This has never been avoided, in fact, MR has been very clear about this. They have taken longer than expected to get the first funder on board, the DFC (still not yet on board but almost certainly will be. Eveb this week an RNS was announced with a "letter of interest".

Going forward, its not practicable that BRES woulc fund OC through a placing. I am not saying that they will never place, but they need a funder, whether this is solely DFC, or more likely another partner with deep pockets. So the way i see it is:

1. We have circa $1.5m in the bank through x2 grants

2. There is a remaining $3m to come - all will be achieved / paid (total $5m)

3. We require funding at some point prior to the mine being operational - likely H2 2024

4. We are currently enagaged with a lot of off take partners and potential strategic funders (note - they have already turned down one strategic funder, so it is not if, but rather whom they go with)

5. The grant money will be sufficient to get us to the end of 2024

6. 600 tonne results will be back end of H1 / early H2 2024

7. When results are back, offtake (money upfront possible) deals can be finalised as can strategic funding

8. The funding of the mine is likely to be part funded by the DFC and part funded by strategic investment

I am relatively relaxed about the above, and think today's market reaction is a complete over-reaction. I expect that MR will clarify this further in interviews.

They probably have over $1.5m in cash given receipt of the first two funding tranches (of five) which are $1m each

Yes agree typo - https://blencoweresourcesplc.com/2023/12/10/orom-cross-graphite-project-continues-progress-on-dfs-components/

I am genuinely gobsmacked that there aren't predators circling around BRES at the moment. They have a huge resource that would make sense for one of the battery makers / car manufacturers to snap up. Whilst the 600kg results havent yet come back, there is enough information in the market / testing that has already been done to prove up the product quality. At this valuation, surely we must be attracting the attention of others.

I like the sound of that. Not the other holding reducing, but definitely the BRES multibagging part. It will happen it’s just a case of when. And looking at small caps, such as HE1, it can happen fast. Can’t come quick enough for BRES though.

If its HE1 you got into, I hope you got a good pice . I almost invested at 0.35p on Thursday pre-the absolute frenzy thats gone on. Decided against it and im so glad I di. I would hate to have four bagged over three working days.....story of my flipping life!!

Not sure I fully agree with this statement. The TAG department agreed to the $5m grant, but that is different to getting a funding solution. Whilst they may have indicated an interest, there is nothing formal to confirm this other than MR statements. Today's RNS is a necessary step in confirming that they are looking to fund. Next will be the meeting with the DFC and agreeing a project structure / framework. When that is in place and the 600kgs are back, its funding time. Today is the first step in this process.

Should say “There is no way this is not going to be funded”

About time this Boomed. We sit at 4.3p whereas the recent broker note was 23p, there is no reason we should be incorrectly priced the way we are. This again de risks the project and is great news.

There is no way this is. It going to be funded given the product quality (+99.95%), green credentials etc.

Also note Alan Greens comments in the recent SB interview (thanks Middle Aged Man for posting) States he can?t understand why the share price is so low, refers to broker note TP of 23p and states ?I don?t think you will ever again be able to pick up Blencowe shares so cheaply at 4.3p?

Agree, very frustrating. The project economics look incredible, product doesnt require deep dig / is at the surface so cheap to mine, great quality, Gov on board, A-rated funding partner operating in an industry with a huge supply deficit. Furthermore, the number of shares issued in the company is tiny so sp growth could theoretically be exponential. All of this for less than £10m. They probably have around £1m in the bank as well, with low operating costs and a route to mine.

The hardest thing is sitting on your hands. This time next year Rodders.

I also thought that was very odd talking about another company on the podcast, which they have never done before. From NH’ responses I can’t help but feel that he is fully expecting a hostile bid. I also note the news releases since the increase in stake and feel that this is trying to get the sp up. Think we will have our bid in weeks or even days. JM reckons that it will happen and may even be going on in the background as we speak. Going for a top up when funds cleared. I have recently averaged down from a shocking 38p to 29p so happy to buy more at these levels either for a quick return (bid) or on the off chance we go to production

Can’t believe that I am actually going to give this post the credibility to respond…..but….O.A.W suggests the following in his post:

“The Blencowe mine is some years from being operational and things could change before then”.

If he was an investor, he would have referred to “the Blencowe mine” as OC or Orom Cross as all the other informed posters on do.

Furthermore, if he was an investor, he would note that “the Blencowe mine” comes into expected production in 2025, not “some years from being operational”…see https://blencoweresourcesplc.com/wp-content/uploads/2023/09/Blencowe-Presentation-Sept-2023.pdf p4 and p15.

Jog on please, and take your friend with you…if you aren’t the same profile that is.

Wouldn’t be surprised if the DFC fund the full solution, although more likely they will introduce to a battery manufacturer with a common aim. Positive to receive another million and like mentioned, removes the nonsense re: matched funding which has already been dispelled. This will increase massively one day, hopefully today

They have already made two offers and now have increased their stake further. Think another offer is almost a certainty it’s just a case of when. If I was Assore, the current share price weakness would represent a compelling time to make say an offer at a 100% premium on the existing sp. My thoughts is that there would be enough shareholders along with their 28.4% to get it across the line. They could have mine for 40p+

Agree, there is enough required capacity for graphite, synthetic and other forms of battery technology. The reason why these technologies are being researched is because we have a chronic battery metal supply shortage which is imminent, and to which we have no current solution. Great for BRES, not for EV car manufacturers or anyone wanting to buy an EV.

Build in the fact that agreements with car manufacturers take years to conclude from concept to implementation / commercialisation, this is not a threat to BRES.

Looks like he next tranche of funding is very close and they are just awaiting the funds clearing. Seems like Q1 2024 will be a busy one for the company. Very interesting also that a number of tier 1 battery off takers are interested in taking samples. Wonder who will be the first one over the line with an off take agreement. I also wonder if we see BRES gobbled up relatively soon by one of these in order to secure production on an ongoing basis, particularly given the large supply deficit that will be an ongoing issue for EV battery makers starting 2025. All in all, the company looks in a good place

Also TGR who came out with results today

You could compare against MARU, SKA and less so GROC