I silently read the comments over last two days and said...

Thanks for credit/tag mate, I was planning to hold off research from HC, but just noticed a good chunk of it has made its way onto this thread. I'll dump the whole thing below

I silently read the comments over last two days and said absolutely nothing, just to see how wrong people could get lmao.

Reading the comments like this is a "Brewer P&D”, "1620 Brewer stock run away" "Staying away from this"
is laughable, shows how poorly researched some are they cant even figure out the person behind the deal how little due diligence some do to jump to conclusions and make comments without any thought.

Few give aways this isn't a JB/1620 deal.
1. JB would've tweeted in was in halt for acquisition.
2. JB would've AT LEAST tweeted about the asset over the last two days. AT LEAST once.
3. Complete silence from John Boardman too?
4. Its not located in Africa?? They haven’t done a deal outside Africa in the last decade.
5. Didn't raise at premium to last traded price which is usually the case.
So 1620 have nothing to do with this by the looks. Neither does JB.

You quickly realise this deal is likely from WeStar Capital. Neville Bassett is the director both at MSE and WeStar so its Neville and Goody that’s steering the ship. Although I did originally buy this as a JB play in Africa. I'm quite happy with the asset, structure isn't ideal especially it looks ugly on paper but its good to get the job done.

So how was Neville was introduced to John Goody (Vendor) who was also the founder of AML. Spent the day working that out which consists of making mind maps like this:


I did one for the MSE team, and the only mutual that I got that linked MSE with Goody was Thomas Mann.

Bassett is director on MSE and AUR.
Thomas was director on both AUR and AML for quite a while
John Goody was founder of AML and vendor of this HPA asset.
Likely Thomas introduced the project to Bassett.

So the silence from 1620/JB was the first give away. Westar capital was the second giveaway with Mann as the Middleman. Then to confirm, call the company and ask them if Brewer brought the vend and that’s the third confirmation he hadn’t.Once again, if you’re too slow to figure these things out and still think its JB running the ship then this game isn’t for you.
JB is currently running the ship at TAO (with GTT assistance and potentially this will also have similar setup where GTT run it with Connelly while JB takes the backseat), 4CE, WFE, GLV (with GTT assistance). So if you're looking to buy JB plays those are where you go. If you're looking to avoid JB plays those are the companies you should avoid.

I do enjoy a good contrary opinion to stress test my thesis, but just as much my pet peeve is when people try bash a company with statements completely off the mark lol.
If you want to bash it, here are a list of cons;
- Structure. Vendor shares doesn't bother me, that is really the only way you're going to get something this size into a shell, to me the vendor shares were actually on good terms and nothing absurd. Issue in structure is the capital raise, already $1.7M in bank, could've raised $500k-1M.You'll have two scenarios, incredibly tight raise given to handful of special folks taking $100k a piece or so – great outcome.Or scenario 2 just a general placement sophs where I imagine that would be the reason for the supply and they'll simply get set back at 0.006. Last placement was done at 1c also from memory was done by Neville (don't quote me on it). So think of it from the sophs shoes, if it’s his clients again, simple strategy of sell the 1c stock at 1.4c at 40% profit. Buy back 0.006 and wait for the multibagging move for the real serious gains with 40% already locked in.Multiple people have said scenario 1 is what’s happening on public forums. I will speak upon it further below.
- No JORC. The drill spacing needs to narrow down. Looks like they'll start infill drilling as soon as cap raise is done and JORC a small part of it up. Of course no guarantees in drilling, just looking at the collars it seems quite consistent in mineral body, grades slightly more choppy.
- Grade is lower than ADN. Hovering about 27% using 45um.But on positive note real quick it does beat FYI and ATC in grade. More importantly its good enough for DSO. The resource is massive so even if they focus on the high grade stuff they'll still have more tonnage than ADN.
- Halloysite content. This was the only thing not provided in the ann? Halloysite occurs within Kaolin and used as a carbon replacement in nanotube, how much halloysite do we have we are yet to find out. ADN has Halloysite content confirmed and in good amounts. Once again these guys can reduce the microns focus on the high grade stuff with higher halloysite content.
- Will be pegged against ADN's performance and how well their project progresses
- No offtake or LOI.
- No ISO standard brightness provided
- As pointed out before by someone else here that actually made some balanced comments. There is a big difference between a team that can JORC up a resource to a team that can bind offtakes, take things into the real deep end. Something to keep in mind. For now I'm happy with Goody leading the ship. He's not across 100 boards, straight shooter, founded AML but really its each to their own, subjective stuff.

Pros

- ADN have to also complete EIA, financing and decision to mine to get that 75%, but I've given it to them anyways. You can see why while the crowd was yelling run at 0.012 it made sense objectively to go in.
So as mentioned above, if we JORC 10% of the body, hit no extensions and focus on the 10um fraction you get something 50% larger than ADN at same grade. Both assets have produced commercial 4N HPA, both have DSO grades and Low CAPEX and impurities.What this project doesn’t have is Offtake, confirmation of Halloysite. Now if you can justify $110M+ valuation disparity for those reasons then by all means run the other way.

The reason this project is a league above the rest other than just size and expansion potential is DSO and low CAPEX, with the team commencing discussion for offtakes already. The reason ADN is a class above this is they have also confirmed halloysite mix. Regardless the disparity between the two is incredible.

- As for the placement. Once again take this with a grain of salt as its merely just "street talk". I have no tangible evidence or facts to back up my talk here so just ignore it if you wish i dont mind. I've been reading on public forum from few brokers/HNW clients said there was absolutely nothing given in placement, nobody got anything.
I've contacted the company for further detail and reached conclusion this wasn't a soph placement, it was more of a cornerstone.
Prenzler group is the lead manager. I've never heard of these guys until today, I did some googling and they did AU8 deal (see prospectus) which did 5bags from placement.
Now personally, I wouldn't believe a random nobody on the internet saying "trust me it was a cornerstone" without evidence. So i don't suggest taking anything from me. But I've put it up here, and I will try get a T20 once placement is complete to back up this theory. The only other give away is this thread and announcement, the largest holders of the company had to buy on market to become subholders. Why wouldn't they just add in the soph placement? Few other guys that I know are sophs also mentioned on another site they were buying on market and bought on open? Why not just add in placement?

Once again, the riskiest part right now is that CR structure (and if I'm right about it) and contacting the company to get a better understanding of structure, did churn through a ridiculous 200M+ already so weak hands should’ve been soaked out by now.
Other key risk perhaps is management able to take it to the deep end (scoping/DSO/off-takes) and being proactive, I haven't had much experience holding through Neville's or Goody's companies. Did have MEI for a short while which was a multibagger under Neville's reign and thats now in CPS's hands.
Good asset though, right place, right time so let’s see. I’ll keep this as my first and last post on this forum until this bags for me. Wont spam the threads cause when I talk its always classified as a "pump".
Always play according to your own risk profile, and most of these stocks are not investment grade to be holding for more than 2years imo but there will be wealth to be made in between. Cheers. HAGW.