Blencowe Resources Share Discussion Threads

[soulsauce] 11/5/2023 13:22

Nicely paulie 👍

[pauliewonder] 11/5/2023 12:45

Topped up again today. Own nearly 1% of the company now lol. Couldn't buy a single share on the market so had to put an order in to be dealt. Could sell any amount. Tells you something.

I have never been more bullish about BRES. They are on the cusp of receiving $4.5m which will go most of the way to funding the DFS. MR was very confident in receiving the grant and said that whilst they receive the money as lump sum, their expenditure will be on a weekly / monthly basis, so there will be mo large lump sums outgoing. This means BRES will have cash to take into any future negotions.

I fully expect that once the DFC provide the grant (within 6-7 weeks), we will shortly afterwards receive confirmation of a US funding partner at a project level. For me this is likely to be an end client.

It was interesting that he alluded to testing work also being done in Chicago at the moment, which as far as I am aware had not previously been mentioned. I wonder if this is something to do with an end user??

[divmad] 09/5/2023 16:05

And quite coincidentally, Paulie, I topped up twice this afternoon also. Irresistible value for a LTH.

[bigglesbingham] 09/5/2023 15:34

Cheers Pauline topped up on back of your good work - no pressure then ha ha

[pauliewonder] 09/5/2023 15:24

Topped up this afternoon. Very happy either the update by MR. Clearly the scale of the opportunity is massive, and whilst it is taking a bit of time, we are very close to project funding and that will be a game changer. It was very interesting today when he was talking about the opportunities that have already presented themselves due to the association with DFC. I agree with those that see BRES being bought out, but think this will happen within the next 6 months built a US player

[flashheart] 09/5/2023 14:53

It won't get anywhere near production though will it so an irrelevant statement. It will be bought out for a handsome premium by a much bigger player long before that as most junior exploration miners are.

[thomas11] 09/5/2023 14:49

Taken from update date Sept. 2022

“ Blencowe has targeted bringing Orom-Cross into initial production before the end of 2023”

Taken from Prenentation today “Commission in 2025”

In 7 months the project has been delayed 2 years! As everyone here states great update can’t think why the share price has fallen.!!

Just think of the progress in the next 12 month. (Another 3 years of delay). Typical small miner, can’t deliver on any published timeline, always underestimating complexity of project management.

Having said that looks a good resource at the right time.

[soulsauce] 09/5/2023 13:12

No he has said we don't need to raise that money yet.

[rolo7] 09/5/2023 13:08

placing coming to match usa 50% grant?

[soulsauce] 09/5/2023 13:04

Agree sloppyg a big misread indeed.

[sloppyg] 09/5/2023 13:02

Didn't see your post Soulsauce !

[sloppyg] 09/5/2023 13:01

Agree strange market reaction.

Perhaps some have misinterpreted the statement that project level finance is off the table for now (previously company had referenced Dec'22). The reason being that the DFC funding is as good as Mike has seen in his 25 years (words to that effect) hence no need to give away too much of the project at this stage.

That or perhaps people expecting some sample results.

Either way a big misread imo.

[soulsauce] 09/5/2023 12:56

I think some folk have seen the cancelling of the corporate level funding as a negative even though Mike says the DFC deal is much better in the long run.

Then again this always does move in mysterious ways.

[divmad] 09/5/2023 12:48

Yes indeed, but why the selling pressure? What else were folks expecting?

[mavern] 09/5/2023 12:33

Many thanks for your comprehensive update PW very much appreciated!

[soulsauce] 09/5/2023 12:27

Great work paulie.

Excellent webinar. Potential of big rewards here over the next 12mths.

[pauliewonder] 09/5/2023 12:06

Just come off the webinar with MR. Shocked to see the share price has reduced today, particularly given the upbeat nature of the presentation and Q&A. For those that couldnt attend, below is a summary although my view is that BRES have a number of news items which will be released shortly, including the DFC funding grant of $4.5m which will be hopefully within the next 6-7 weeks:

- DFC – graphite on US critical minerals list
- Been talking to them for a long time
- Couldn’t work with prior to this stage
- Interesting few weeks coming up until grant is awarded
- Gives us a lot of money but also credibility with a major financial institution
- DFC can assist us with long term project funding and not just DFS funding
- Graphite - now starting to see a material increase in demand similar to other metals
- US government looking to lock in long term supply chains
- DFC grant may result in supply chain partners and already seeing interest after RNS
- Still speaking to Chinese and will continue to speak to them
- China 95% of market at the moment although will reduce as other countries increase
- Also speaking to Asian market – Korea / Japanese
- Don’t know debt terms of package would be if we got a subsequent debt package (after grant)
- DFC know that BRES will sell into China
– DFC OK with that at the moment
- Will be an evolving relationship with DFC and there are opportunities going forward
- Grant of £4.5m (or interest free loan) only payable if project goes into production – as good as you will ever get
- DFC will cover 50% and BRES to cover 50%
- Don’t have to pay $4.5m for DFS on day 1 so will mean BRES retains funds initially
- Will pay invoices on a monthly, weekly basis so no up front lump sums
- Will look at various options for other funding
- Plenty of very exciting options on the table re: funding that may result in relationships going forward
- DFC trumps everything else at the moment – one of the best funding options Ive seen in my time
- Don’t want to give away any of the project now
- Project worth $30-50m now, will be worth $50-70m very soon
- Preserve value for shareholders
- Not a west versus east issue. Can work with both and we are currently talking to everybody
- Not aligning ourselves with anyone, want to get best value for our product
- Re: North American listing, would BRES consider that? At the moment no although once tie up with DFC, likely to get a lot more NA interest and this could be something
- China testing – want to test it themselves and not rely on Canada findings
- Each end user wants to assess it themselves
- Process of testing will be completed soon and will share with the market
- Also sent samples to Chicago to test and send up to 99.9% - will also share
- A lot of good newsflow coming up soon
- Re: Jorc resource increase – want to develop co as far as we can with as little as we can
- Choice between develop Jorc or develop project
- If we had access to more cash we would add to the Jorc
- Speaking to DFC about whether they would assist with Jorc expansion costs
- Increased Jorc would mean higher value project, but at 14 years mine life, sufficient at the moment
- So much graphite at OC that we could drill and add to Jorc for a long, long time
- China testing to be completed soon
- Chicago testing happening at the moment and completed near term
- Will send results to market for all the above
- DFC are a funding partner, not a technical partner
- OEMs will be end buyer and need to ensure that product is right
- OEMs will need to test product to make sure it fits
- Don’t know when binding offtake contracts will happen
- Definitely got interest and might get non-binding interest soon
- In China looking at plants at the moment
- Binding contracts only occur when 99.9% purity has occurred and OEMs get test work
- Binding contracts from around 6-12 months time, non-binding before
- Demand is there, question is can we be the best producer to sell to highest OEMs and get best prices?
- DFC provide 50%. They never provide the full cost because the firm is required to take some risk as part of the deal
- Continue to work with them and see what is possible
- Re: silicon based batteries, has properties that help and can replace graphite to a small amount (say 10%)
- Silicon can help, but can not replace
- Synthetic graphite might reduce natural graphite demand but again, cannot replace
- Will likely be 50%/50% and forecasts are based on this (i.e. 50/50)
- If it was to be less than 50% synthetic, this would have a big (positive) impact for graphite
- Quality of end product will determine if we can sell to high end versus lower end
- Either way, will be very profitable
- There are a lot of interested parties knocking on the door at the moment. Don’t need to take any of these at the moment
- Some very attractive options and good partners, but need to look at all of them
- DFS grant should be within 6-7 weeks
- Grant will shake the tree, we are already seeing an increase since the RNS and we haven’t even signed it yet
- Remaining steps for grant, KYC, DD, information needs providing re: plan, budgets, milestones etc which is all happening now
- I don’t know how quickly it will be done but my understanding is within 1-2 months and we will do everything we can to speed it up
- In the meantime we will be releasing news around what we are doing
- We are very excited about DFC opportunity and growing the opportunity itself going forward

[musicman99_9] 06/5/2023 16:13

got in with a fee looks to be heading north

GlA

[soulsauce] 05/5/2023 16:50

Cheers paulie you too.

Looking forward to the webinar on Tuesday.

[pauliewonder] 05/5/2023 16:11

Lovely finish. Have a great long weekend all. Bold prediction, we will end next week at 8p

[pauliewonder] 05/5/2023 10:04

Positive momentum here now ahead of Tuesdays presentation which should put some meat on the bones of the recent funding announcement. Feel like we are now on the cusp of that long awaited re rate. Could well be in double figures by the end of May

[pauliewonder] 04/5/2023 08:06

Not able to buy virtually any shares at all. Can sell but can't buy

[soulsauce] 02/5/2023 08:54

Hopefully paulie.

[pauliewonder] 02/5/2023 08:52

Bye bye 5p shortly