Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yeah the float should only be good for MSMN
The $ amounts from small barrels do add up over time though as long as it pays back even at 42% take that one should net the company about $900k a year, I think this was always going to be a small well just finishing off a known field. I'm thinking that would moving onto ASH not be the big thing that the market needs from Egypt, those two other wells came in really big, they just flowed them too much and they declined but everyone was happy until that happened. I haven't gone onto this board in a long while but I think that they are in a lot better place than sentiment would make out. They have also been quiet on Maria but awaiting the new data to be remodelled there, if it continues to look good then they will easily get a farm-in partner because it is North Sea.
Someone spoilt the party by not knowing how to sell properly. Limit orders when strong the best way to get a good price rather than dumping all the stock at once! Still it has been moving positively
I hope that everyone had also noticed the absolute pummelling the global markets have taken as of late. I'd like to think that BRES got hit early with the traders exiting, luckily unlike many small caps it is sitting on cash
Yeah Hedgehog, on the comms, the video interview with Mike Ralston and the guy on Mining Network was very good. There was link somewhere below. On the nickel asset it's an earn in over a few years a little bit at a time, not all of it
Becoming a good story now
Coyote. They just need to get it done and through the process, market will follow after
I think they are at the Jamaican high commission not in Jamaica but there are billboards of the asset behind them in the photo I think so perhaps some joint marketing exercise to potential investors. Relations with the Jamaican government seem strong anyway
Also criticised the company for not updating at these discrete stages, think the will was there but hands tied lead Bank process demanded silence and no influence they know they just have to make sure that reviews stack up technically and get it signed
Spoke to company last night ITE work largely complete, the JORC is days away and they will update with that. No fatal flaws reported in the ITE work which was the whole point of the review. ITE is a large internationally recognised group on the preferred DD supplier list to all the banks. Bank utilise the ITE anyway but usually at a later stage DOID have basically said bring that bit forward and unless they turn up any showstoppers then they are in. Markets are tough but looks like this is nearly done.
Well they wrote a whole paragraph for the statement:
Chief Executive Officer of RAB Capital Philip Richards commented:
“I am pleased to have taken a long-term and strategic stake in Blencowe Resources. The priority Orom-Cross graphite project is clearly of significant quality and global scale already and it can play a material role in helping to meet the expected supply deficit forecast ahead for graphite. Whilst at an earlier stage in its development, the Akelikongo nickel sulphide project also appears to carry significant promise and I look forward to the results of the ongoing exploration campaign.”
Levi it must have been agreed at premium, the market would have 100% sold off the JORC probably immediately (even though it was great). RAB is a real vote of confidence, company just need to make more noise about it
However on the day the volume was one of the highest ever so it must have caused some excitement. I think the main excitement.
Levi, I was happy with the timing the placing, that stock is not coming out. the market would have sold it off harder if it were not for the RAB investment, sell the news etc. But they sold it anyway - exacerbated by market coming off
I'm trying to free up my diary to go to this event on Thursday, anyone else going?
Expect that it will run better from here, markets have not been kind and a lot of traders have taken it for a ride. Not unexpected given this is even pre-FS even pre-PFS. Let them get these numbers out of the way and mature a bit. I think this is lining up to be a respectable play. I was especially happy after the RAB investment. It gives a clear run for the stock now.
Just had a positive conversation with the company (second of week first being with broker) it is beginning to happen now. I added. They are and have been cautious but is has been a case of very technical reviews boring stuff which needs to be signed off by due diligence groups and commercial arrangements not allowing them to talk about what is going on until an answer. I would prefer just an RNS to say that done and then look upwards.
Quite a lot to pay attention to on the call today but on the whole very positive. Growth and Earnings Per Share looking very good. A whole full year of production.
There were also trade receivables of $2.2 m so cash not as bad as it looked
Agreed with this bit below from the note - there are only few shares in issue as well and if everyone holds onto these then we are going to see significant gains from here
"We believe a significant market re-rating awaits Blencowe Resources, as investors begin to appreciate the size and scale of the low-cost project being developed and its
importance in feeding the EV market with essential battery grade graphite"