Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
Think it settles at 15-16p shortly in aniticpation of the financing being announced imminently.
The overhang has cleared up peeps after a massive churn. Can move more freely this time back over 15p and then over 20p with the next bit of news.
Wonderful churn today clearing up the the last of the placing stock and with news expected soon.
Just think the share price was at 67p and is now at 20p and since then.
+an exceptional DFS has been delivered demonstrating world leading output at 365,000tpa and low costs both OPEX and ASIC. A long life of mine at high output which will only increase futher.
+35mt of high confidence, high grade resource which may grow to 45-50mt within the next few months, new MRE in Q2
+Major pegamite extensions outside of the exisiting resource area which will see the resource go to over 50mt I'm sure
+Consent from the Government with the ward of the mining licence
+Approval from local chiefs and others to start the project asap
+Welcoming aboard MiiF bringing in +US$40MIL
+Welcoming aboard the Ghana Government
+Rejection of two premium takeover bids from Assore who remain in love with the project
+In the final steps of the final offtake which is expected to be significant
+Exepctations no more dillution needed which has already been kept to a minimum, MiiF, Piedmont and new offtaker to soon provide the remaining project funding
Get back to 67p and that's almost a 250% return for new buyers despite all that exceptional progress. So the investment case from here is solid in my own opinion. Not advice of course.
I think within a short 2 months the company will go from its current situation of finalising the development stage of the project to having the vast majority of funding finalised with the major offtake and MiiF partnerships and also the ML formality done and dusted. A comfortable buy and hold for me.
The rising lithium price and feldspar elements are also a good bonus to have.
Well massive contracts like this and I'm sure more are coming on top of the big ones already announced will sort that out. This could be a very straightforward 10-20 bagger.
This new £120mil contract far from reflected in the current market capitalisation. Could easily see a 50% day tomorrow.
Market cap only £60mil and 36p. That's a lowball. At 72p the market cap would be £120mil which is the same as just this contract value.
After todays news the market has begun accumulation and therefore expect a significantly higher share price base before financing drops, this will be much closer to 20p than 10p.