Member Info for pj70

The growth prospects are great and they are not just words but if they can bring online the onshore wells and alongside some success at higher rates offshore and explorations success then the tripling of production to 20k boepd by 2030 should see in theory with oil holding around 60 a barrell a 3-4 fold in share price movement at least.

Rmc your sounding like Trump,

Its a nice road, a lovely road and a big road. Best road i have ever built :-)

Merchant i think it comes down to how you perceived the video he released on friday. I thought the RNS was great and very clear, precise but nothing really stated around the funding that people did not know. I was not impressed with his answer on the funding at all on the video. One can state without breaching any rules that there is 7 or 5 parties currently looking at it. Two are further down the track than the other 3 or 5 etc. It gives an investor some confidence without stating anything that would be legally inappropriate.

I think the reality is that they are shocked by the hurdles they are having top jump to get the funding and that every two bit miner globally with a commercially viable resource from oz to argentina and everything in between is relying on trying to get "western funding" when if they went direct to China which they made very clear they are not doing they would have this sorted or been bought out.

Merchantbanker the access to a data room and the associated NDAs would have been months ago and if they are only just happening now then we are not getting funding anytime soon eg by end of Q2 as most expected and by end of q3 would be a push and hence production is out into late 2027 or 2028 IF funding is accessed.

The worry for me is that we have a US market meltdown that is coming some time soon and when that happens all funding unless signed will not happen and even an equity raise will be difficult.

I think the lack of comfort in the comments for me about funding in the video that Mike did late last week was the dampener. I think when asked how funding was going he just stated "positive" but "alot more to do" or something along those lines.

Cracking announcement and have effectively now secured manufacturing facilities for circa £600m of revenue now.

Caravan - there was alot of traders and short term holders looking to cash in on the DFS which was released today and looks good. The concern is funding but that is why it is a penny stock as such and the potential for a multi bagger is there. Risk vs reward it is that simple. They have the project they just need the financing. Personally i dont think a 400m share dilution to get us where we need to would actually damage the SP that much. Alot more damage that in 3 months time we still have no funding.

His comment about funding being "positive and ongoing" sadly did not fill me with that they are close to sorting out!!

www.**********.com/articles/interview-with-blencowe-resources-0de98ba

Agree David - i do think a cavendish note showing there valuation at XXp will do this SP the world of good.

All we can now do is wait and see what happens in month of June as i am expecting something soon based on Mikes last interview.

The ghost - are you able to share your presumed list of multibaggers?

Bead i am of the same opinion. You have diluted the company to 24bn shares. What is another 3-4 billion shares to get this to production and then using a portion of FCF to do a buyback and also a share consolidation.

This is last chance now to get it right the next 6 months and get into a positive cashflow scenario. Q3 crucial

The announcement was very positive but the behaviour on this board has been less so. How they get the funding for P1 at $45m really does not matter in the grand scheme as yes equity dilution can be used and share buybacks later when your making money OR handing over a % of the project for the money you need. Either way i cannot see how we will be valued at £50m if we get to production in 2027 with either funding solution and with P2 around the corner for even higher revenues and bottom line.

This is still a LTH for me and i do think that funding when announced will be the trigger for a significant re-rate. The Cavendish broker appt will include their first research note in the next week or two. They will be using the detailed DFS from the company to do that and asking more of Mike to get that note out and that valuation i am thinking will be a multiple of where we are trading at today.

So for those looking to trade probably a disappointing outcome today but for those long term holders todays announcement gave clarity and all the information you need to know that the project is commercially and financially robust and the funding around the corner will bring that to reality and the share price at a multiple of where we are today.

Titus your correct - i misread the RNS

Metalhead - i see where your coming from and interestingly then the DFS then becomes a touch irrelevant EBITDA wise as you are not sure what the value is that is attributable to Blencowe from a valuation metric perspective. Until that is known again it is difficult to value.

Looking very clear to me now that we will fund P1 with a sizeable equity tranche which is fine as it is £45m so the timing of the additional larger scale broker to get a research note out POST the DFS announcement today. My expectations is that we will see a broker note by end of next week by cavendish with a significant upside to current price. This will drive price and also the baseline that the equity investment insto takes a 300-350m share issue at 11-12p a share and the remaining £10m being debt funded by same company. This then does not change our timelines for production and proving what we have but will give us 800-900m shares on issue which is better than leaving the product in the ground.

Once P1 is proved up then P2 i think will be debt funded as long as P1 is a success.

There is still risk on delivery of P1 but the creation in Q1 of the housing facility on site would indicate we are not far away from money in the bank from a large equity tranche and moving to production.

All just my opinion but can see the ducks lining up now and that debt funding just was not possible for the P1/P2 like they wanted .

Market cap £50m vs EBITDA £200m on a sub 200m capex investment with mine life 15+++ years but not factored in. No brainer hold comes to mind

Could the lack of enthusiasm have been because they know they have big issues at play and that the comment about the trailer not being filled is actually a big problem ???

Or has funding landed???