Hi everyone, see below list of 46 reasons to invest or speculate in BML. Some of the items may be vague, lacking detail, have an equal counter claim and may not be supported with any reference. I am not turning this into analyst report though so lets be realistic. Hope this helps current and future buyers/sellers. 1. Lower risk at lower prices. BML is at bargain prices at many metrics
2. the PM bear market has under-priced BML
3. This is an investment in a PM bear market which has arguably reached its bottom
4. this is small cap resource that is naturally "leveraged". Any real upsides/downsides are violent. If your conviction is for the upside then this is great.
5. The Sorby Hills project is a question of when and not if its going to happen (this is a rick rulism)
6. BML is near the bottom of the orphan period and there are many upcoming catalysts for SP growth
7. Development and production timeline for the project and silver credits line up well with the PM cycle (maybe not work well funding)
8. Band wagon and FOMO retail investors will pile in if there is a positive turn in PM sentiment
9. Fundamentals for the project are strong
10. Charting technicals indicate we are near bottom
11. Retail investors act emotionally and are not patient. Buy their bargin sells.
12. Management have mostly done what they said they will do
13. NPV8 @ $303m and IRR @ 46%
14. Capex is <$250mil. this is very doable financing. not a fairy tale.
15. BML is the most competitive ASX base metals and silver opportunity
16. Lead, Zinc and silver resources provide natural diversification in a single stock
17. Management buying in ordinary shares shows conviction in the project (unlikely to be desperation in trying to save SP?)
18. Resource and metallurgy very similar to Tier 1 Cannington South32 deposit. BML has less silver but is open pit and shallower.
19. SP has collapsed below prior credit raising without the fundamentals changing. This reinforces the bargain hypothesis
20. The 25% Chinese ownership is symbiotic and has locked in a large offtake partner. BML have customers before DFS and funding.
21. The royalties BML are contracted to pay are amiable and symbiotic to the business - they are not predatory.
22. In listening to interviews Simon Noon appears to be able to promote the company and is competent
23. Silver credits are able to entice the PM chumps if PM sentiment turns
24. Management appears to communicate mostly well to shareholders
25. Simple project, story and business. Does not require a team of analyst and engineers to decipher.
26. The MVT mineral system is simple and the BML team is qualified to decipher the resource geology puzzle.
27. The Sorby and Manbarrum MVT mineral system suggests massive massive upside in resource expansion.
28. WA and NT are tier 1 mining districts, government supports the project and there are no licensing issues.
29. Applying fundamentals and technical to the investment case would suggest BML is not a speculation but a real value driven investment.
30. Market cap is massively underpriced relative to project value and EV. Any takeover would have to be significantly above $50mil.
31. Reputable institutions may not want to play with the 25% Chinese stake in BML for good reasons but this a great opportunity for small time retail investors.
32. Current and forecast lead and silver prices make the project very profitable and very realistic.
33. Realistic off takes and funding are being secured now at the 10 year mine life - while there is still massive 30+ year mine life upside possbility.
34. at a market cap of <$50mil, a 5 to Disallowed is within the realm of possibility
35. The current share price decline is founded on market psychology not fundamentals. This is where the bargain opportunity is.
36. BML is not squawking garbage information and ESG nonsense like many other junior resource companies (i.e. hydrogen, ESG etc). BML is being run on a competent and basic fundamental level.
37. Management have skin in the game and the success of the business provides massive invectives for them to work hard and bring shareholder value
38. Management is not side tracked by other commitments at other ASX ventures
39. Metallurgy is good. Metal recovery is competitive to other tier 1 lead/silver operations on the ASX
40. be either a contrarian or a victim when investing. It’s PM bear market so buying into a lead/silver play now is less of a chance of you being a victim to the market.
41. there is definitive plan and optimism in BML management.
42. BML has not been promoting well and this has produced an unrealised value in the market. The fundamentals will win in the end and BML will promote eventually. The SP is a bargain.
43. Easy access to power, water, road, port and hydro power.
44. Green promotion and viability is realistic which can pull in ESG institutions.
45. Salary/options to exploration cost ratio is about 1:4. This is reasonable for a junior resource company at the development DFS phase.
46. Shareholder cash is respected. Salary’s and options for directors are not obtuse. Simon Noon is remunerated <$300k.
I welcome all comments but will unlikely respond. I am especially keen to hear comments from "down rampers" and "trolls". For real.
(20min delay)
