Apologies for the new thread Guys and GalsI requested to edit my previous post and the title of the thread, but they must have misinterpreted my message and removed my post, so here is my research again which I have edited and updated
Why is BYH INSANELY UNDERVALUED?Currently,BYH(Bryah Resources) is an UndiscoveredJewelawaiting market discovery .. And this is where 10-baggers arefound... Thanks to a good "Investor Friend" of mine, I havebeen lead to BYH, in which I have undertaken extensive research todetermine the potential company & SP growth... And I really likewhat I have discovered thus far!!
Somany aspects of BYH remind me of a similar explorer company last yearat 6-7 cents (now currently mid - 30's and with still so muchpotential)... At 7 cents, said company what highly dismissed by themarket, but those who got in early, particularly in the March Lowsare now sitting on 10 Bags• Highquality gold and copper-gold exploration targets – potential forthe next big VMS (Volcanogenic Massive Sulphide) discovery in theBryah Basin which hosts world class Cu-Au mines;
• Goldresource at Tumblegum South – preparations for mining underway toadvance these Gold Deposits into Production(Potential $20-25 Mil);
• Saleof Manganese JV Interest will provide significant cash to fundBryah’s copper-gold exploration activities.
Ok,so let's look at at who BYH are and what do they do:Sobasically, BYH is a Perth-based copper-gold-manganese focused mineralexplorer with a focus on exploration for high-grade copper-gold andmanganese resources located in its two projects areas in the BryahBasin (1,185 km2) and at **anintha (170km2) in the Meekatharraregion of Western Australia.
BryahBasin (1,185 km2);
Putsimply, 'This area is considered highly prospective for discovery ofgold and copper-gold mineralization' ...
Althoughwe have a JV in regards to Manganese in the Bryah Basin ( jointventure agreement with OM (Manganese) Limited in respect to itsmanganese rights only in respect to approximately 660 km2 of itsBryah Basin tenement holdings), OMM decided not to exercise itspreemptive right to buy out Bryah's 49% share of the JV by matchingthe $5 Mil offer, and therefore (after 8 January 2021), it looks likewe will agree to the sale to Primero Group for $5 Mil!! (Extra Cashfor exploration activities)
“TheCompany has seen an opportunity with Manganese in the Bryah Basin andin the process has made new discoveries,attracted a quality Joint Venture partner and most recently receiveda cash offer of $5 million for its remaining JV interest.”(49%).
BECAUSEOM (Manganese) Ltd has waived its Pre-emptive Right to match theoffer;
•Bryah is now free to complete the sale of its Manganese JV interest (Bryah is now free to transfer its JV interest atany price notbeing less than $5.0 million).. Over the coming weeks, Bryah willcomplete this joint transaction with Primero and AMCI - AmericanInvestment Fund) and upon settlement, receive $3 Mil + $2 Mil indeferred payments over the next several months = TOTAL $5 Million)
•Bryah to retain rights toall commodities other than manganeseover the joint venture area, whichis highly prospective for copper and gold...
Soessentially, BYH will be receiving $5 Million CASH for only theManganese in the Bryah Basin, and we get to keep all the good stuff(Gold, Coper, etc...)
In the Bryah Basin as well, besidesfrom our JV, in 2020, we:
Completed 2,225 metres in RC drilling programs, mainly testing shallow gold at Windalah
Shallow high-grade gold intersected in RC drilling – visible gold observed
Completed 6,927 metres in 2 aircore drilling programs, identifying VMS copper-gold target at Windalah
Drilling identified new copper-nickel-cobalt exploration target at Mount Labouchere
Fromthe sale of this Manganese JV, "most of the funds will beapplied to exploration in the Bryah Basin -Back in November we announced a very significant VMS pathfinderdiscover at a place called Windalah, so our plans are to go backthere and spend a lot of effort doing the next few rounds of drillingthere"
"ALLof our funding will go to gold and copper exploration"
Referto this excellent interview with Neil
Inregards to Windalah:
TheWindalah Gold / Copper prospect alone looks like this could be a“Company Maker”
•Bryah’s recentexploration at the Windalah Prospect confirms that the area hasseveral geological similarities to the VMS Horseshoe Lightscopper-gold mine located 13 km north:
✓Same stratigraphicposition as Horseshoe Lights (i.e. close to the top of NarracootaFormation, which is overlain by Ravelstone Formation);
✓Same major anomalismin pathfinder elements (As, Sb, Mo) at surface and at depth;
✓Similar geologicalfeatures recorded in drilling and mapping to date; and
✓Shallow goldmineralisation – at Horseshoe Lights mine the rich VMS copper-golddeposit was located below a zone of gold mineralisation from thesurface.
AND...Recentlytoo, in the Bryah Basin, BYH completed 67 holes for 5,999 metres ofAC drilling over four prospect areas (Fortnum East, Fiddlers East,Windalah East and Wongawar). Results of AC drilling fr the other 36holes at Windalah East were announced on 27 November 2020.
Thirtyone drill holes for 2,699 metres were completed at the 3 prospects.Three metre composite samples, together with 1 metre bottom of holesamples from these latest drill holes have been assayed for a broadsuite of elements.
Atthe FortnumEast prospect:
Theaircore program was successful in identifying the poorly exposedNarracoota-Ravelstone Formation contact in each of the fourthree-hole drill traverses over a strike length of 4.7 kilometres.Copper anomalism identified on the southernmost line (FEAC010 - 21m @288ppm Cu) highlightsthe potential of this zone to be analogous to the nearby Wodger Cu-Audeposit, 4km to the west.
“TheCompany is pleased that this first pass program has confirmed thepresence of the prospective Narracoota/Ravelstone contact on ourground. The Company intends undertaking additional explorationactivities testing this contact in 2021”.
Weare also awaiting results of Auris MineralsLimited current InducedPolarisation (IP) survey which is evaluating approximately 4.5kilometres of strike of the interpreted copper anomalous trend,encompassing both the Forrest and Wodger deposits. These results maylead to follow-up exploration activities on our adjoining tenement.
Atthe WongawarProspect:
Theresults of this first pass program have confirmed the presence ofshallow gold mineralisation at the Wongawar prospect. Furtherinterpretation of the geology of the prospect will be undertakenahead of any consideration of further drilling (See Drill HoleLocation Plan):
Andthe Fiddlers East Prospect:
NineAC holes (FD001-009) for 668 metres were drilled at Fiddlers Easttargeting an area prospective for Horseshoe Lights-style gold-coppermineralisation. The drilling area lies approximately 5km to the eastof the Horseshoe Lights open pit. Only one drill hole recorded anygold anomalism in this program (FDAC003 – 3 metres (33-36m) @0.3g/t Au). But remember, ONLY 9 holes were drilledNowto some more exciting stuff **anintha:
TheGabanintha Project is located approximately 40km south of the town ofMeekatharra in Western Australia. The Company has acquired a suite ofmineral rights to tenements covering 170km² held by AustralianVanadium Limited.
AtGabanintha,Bryah holds the rights to all minerals except Vanadium, Uranium,Cobalt, Chromium, Titanium, Lithium, Tantalum Manganese & IronOre (Excluded Minerals). Australian Vanadium Limited retains 100%rights in the Excluded Minerals on the **anintha Project. Bryah hasannounced a maiden Inferred Mineral Resource at the Tumblegum SouthProspect at **anintha of 600,000tonnes@ 2.2 g/t Au for 42,500 oz Au .TumblegumSouth Prospect:
Since2017, Bryah Resources has completed two drilling programmes at theTumblegum South Prospect with some significant results reported.
InDecember 2017, Bryah Resources announced the completion of its firstdrilling programme at the Prospect. In January 2018, the Companyannounced significant gold minersliation in the initial results fromits second drilling programme. Best intercepts recorded are:
BGRC015: 3 metres (45-48m) @ 23.80 g/t Au & 0.32% Cu.
BGRC005: 6 metres (84-90m) @ 2.95 g/t Au & 0.35% Cu.
BGRC00:8 9 metres (12-21m) @ 2.34 g/t Au.
BGRC009: 9 metres (45-54m) @ 1.82 g/t Au.
BGRC020: 6 metres (72-78m) @ 2.33 g/t Au & 0.13% Cu.
BGRC002: 2 metres (102-104m) @ 1.73 g/t Au & 1.67% Cu.
Atotal of 16 reverse circulation (RC) drill holes for 1,583 metreswere completed in a second drilling program in October 2019. Bestassay results from the program:
BGRC033: 4 metres @ 7.83 g/t Au and 0.23% Cu (119-123m), including 1 metre @ 30.24 g/t Au and 0.39% Cu
BGRC036: 5 metres @ 3.81 g/t Au and 0.28% Cu (99-104m), including 1 metre @ 12.54 g/t Au and 0.78% Cu
BGRC040: 5 metres @ 2.21 g/t Au and 0.16% Cu (92-97m), including 1 metre @ 6.11 g/t Au and 0.28% Cu
BGRC027: 1 metre @ 6.71 g/t Au (24-25m), 2 metres @ 2.88 g/t Au (33-35m) and 1 metre @ 3.11g/t Au (69-70m),
BGRC038: 1 metre @ 13.43 g/t Au and 0.51% Cu (108-109m).
InJanuary 2020 the Company announced a maiden inferred Mineral ResourceEstimate for the Tumblegum South prospect. The Inferred MineralResource is 600,000tonnes @ 2.2 g/t Au for 42,500 ounces gold usinga cut-off grade of 0.3g/t Au.
Andas per interview above, with our Managing Director Neil Marston,proceeds from the settlement of the Manganese JV will be used fullyto fund the further exploration of gold and copper, and as it seems,production:
Aquote from the interview:
"Wehave just signed, just before Christmas. with Adaman Resources, toaccess the Kirkalocka Gold Plant with the aim to take this project,in which the mining lease has been granted, to open up a pit andtransport it to Kirkalocka to do a proper processing deal on theproject"
Theconditional agreement gives Bryah Resources (ASX:BYH) access toAdaman Resources’ processing facility at the Kirkalocka gold mineto treat material mined at Tumblegum South. Under the terms of theagreement, the two parties will enter a binding 50/50 profit shareagreement which will see gold-bearing material mined at TumblegumSouth and transported by road to Kirkalocka near Mt Magnet. (Thisconditional agreement should be finalised in Jan 2021) – NOT LONGTO GO
TheAgreement provides that Bryah and Kirkalocka will work together andperform their respective obligations under the Agreement so thatmining at Tumblegum South may commence at an agreed time after 30June 2021.
Commentingon this important milestone, Bryah Resources Managing Director NeilMarston said:
“Oneof the challenges facing any company with gold mineral resources notlarge enough to support the construction of a standalone plant issecuringaccess to facilities to process their material.
“Withthe granting of the Tumblegum South Mining Lease in November 2020, wewere able to advance negotiations with the team at Adaman Resourcesto this point. The Adaman group’s expertise in mining, processingand road haulage can provide the full suite of capabilities needed tobringTumblegum South into production.”
“Obtainingaccess to the Kirkalocka gold processing facility brings Bryahanotherstep closerto realising the value of its gold resources at Tumblegum South.”
In 2020:Tumblegum South Mineral Resource Estimate – 600,000 tonnes @ 2.2 g/t Au for 42,500 oz Au
Applied for and granted Mining Lease over Tumblegum South Deposit, achieved within 8 months
Initiated negotiations on Profit Share/Ore Sale Agreement with gold plant operators, negotiations on-going
Recruited experienced mining professional to lead mine development at Tumblegum South
Completed 3 hole diamond drilling program for 162 metres total depth to test high-grade zones and geological model – assays pending (This was completed in November 2020) - Core from this drilling is in Perth for cutting and more detailed geological logging, with samples to be submitted for laboratory analysis in early January 2021!!
Planning for a follow-up RC drilling program in 2021 to satisfy another one of the Conditions Precedent is underway - follow-up RC drilling program in 2021 to test potential to expand the resource, which offers extension potential down dip and along strike
Inregards to the 3 hole Diamond Drilling Program, ManagingDirector Neil Marston said:
“This drilling is a clear example of our pivot towards focusingon our copper and gold assets following yesterday’sannouncement of a $5 Million conditional cash offer for, and intendedsale of, our manganese rights in the Bryah Basin.
“Earlier this month the mining lease over the Tumblegum Southdeposit was granted and two weeks later we are back on the groundwith a drilling team. We are very keen to keep moving thisproject forward in this very buoyant gold market and we look forwardto reporting the assay and testwork results from this drilling in duecourse.”
They are not 'mucking' around!!
Notealso, that our Tumblegum South Project (the deposit) is locatedimmediately along strike of the open pits of the **anintha Gold Minewhich were mined between 1987 and 1992 by Dominion Mining Ltd in aJoint Venture with Southern Ventures NL and Black Swan Gold Mines Ltd
Ipersonally believe that the best part of BYH is to bring in the $$$from Tumblegum South which could potentially bring in $20-25 Mil(Which sounds very similar to "another" company when it /we were back at 6-7 cents)
Andas @Corgi kindly pointed out:
Prudentmanagement of a small cap miner monetising their small resource togenerate cash flow to fund future exploration and development.
Nevera truer statement from their MD regarding the reality for smallresources prospects.
Thatis what makes MDI such a sound investment. They are going to be in aposition of leverage where they are the only processing plant withinga 150km radius and exposure of up to 15 stranded gold depositsaggregating 1.8MOz, too can negotiate 50/50 share on profits! It is aWin, Win & more Win scenario because it saves from the time andexploration risk + Their open pit reserves is enough to keep thembusy for at least 8 years IMO.
Aquick picture of our Money Maker:
Howmuch money could this make BYH?
Well,according to @VatreniHR 's calculations,
Capexshould be very minimal because the deposit is adjacent (1km away)from the Meekatharra to Sandstone Road. Capex would coverpre-development, site preparation, etc. Will be determined who coversthe capex or if it is deducted from shared profits. Allow for$3-4m.
AISCcalculations:
Miningcost: $10/t
Ore Haulage cost: $0.15c per tonne/km ($46.65 pertonne)
Processing cost: $35/t
Mining cost - $6,000,000
OreHaulage - $27,990,000
Processing cost - $21,000,000
Total:$54,990,000
AISC:$1,293 per ounce
Figuresbased on similar toll treatment agreements in the region.
Ifwe work with 42,500 oz (inferred atm):
Goldprice (AUD): $2400
AISC:$1293
Revenue:$102,000,000
Profit:$47,047,500
Byrah's50% share: $23,523,750
Notbad for a company with an alreasy $3 Mil cash, $5 Mil on the way,with an INSANE MC of only $10 Mil!!!
Ok,so we have discussed the projects, but what about Management?“Skinin the Game”:
Nothingsays it better about the future potential of a company than theinvestments of the Management Team in the company's success... BYHManagement could be said to be “Highly Invested” in BYH futuregrowth!! Our Management Team are some of the TOP Shareholders in theTOP 20 list and collectively own a whopping 9% of BYH..(excludingoptions) AND, altogether, our Top 20 own more than 40% of the companyor Shares on Issued!! This to me, demonstrates a high confidence intheir own confidence in the future potential success of the company.
Ordinary Fully Paid Shares (Not options)
Neil Andrew Marston
6,500,000 (4.23% of BYH)
Leslie James Ingraham
6,333,334 (4.12% of BYH)
Ian George Stuart
1,100,000 (0.72% of BYH)
13,933,334 (9.07% of the company)
*3,500,000Options – ex. price $0.09, expiry 30 September 2022.
Justa few days ago, Leslie and Neil added a further 3,000,000 PerformanceRights EACH (Issue of performance rights under the Bryah ResourcesLtd Performance Rights and Options Plan as approved by shareholderson 4 December 2020)
Evenmore invested, and even more incentivized to produceresults
Andwho is Neil Marson (Our Managing Director)?
Anexperienced and versatile business leader who has demonstratedcorporate success.
Previous roles within the resourcesindustry have included Managing Director, Chief Financial Officer,General Manager – Commercial, Company Secretary and projectmanagement roles for ASX listed companies involved in exploration,development and mining projects within Australia andinternationally.
Broad leadership experience in otherindustries including senior management roles in the surveying &mapping, pearling and pastoral industries and a Not-for-Profitenterprise.
Key Areas of Expertise: -
* InvestorRelations
* ASX and ASIC Reporting
* Capital Raisings (Debt andEquity)
* Mergers and Acquisitions
* Contract negotiations
*Mineral Exploration
* Corporate Governance
* Accounting
ManagingDirector & Company SecretaryBryahResources Limited
Jan2017 - Present 4 years 1 month (CURRENT)
Perth, Australia
BryahResources Limited is exploring for base metals (mainly copper), goldand manganese in central Western Australia. It holds 1135sqkm ofexploration ground in the highly prospective Bryah Basin as well asgold and base metal mineral rights to 170sqkm of ground atDisallowedanintha.
He founded the company and led the processto raise $5.6M and list the Company on ASX in 2017. Since listing wehave raised additional capital of $3.8M to fund exploration in 2018,2019 and 2020.
ManagingDirector / Company SecretaryHorseshoeMetals Limited
Jan2010 - Oct 20155 years 10 months
Perth,Australia
HorseshoeMetals Limited is an exploration company which has quality projectsthat contain significant copper/gold mineral resources.
Neilwas responsible for successfully listing the company in 2010 and theoverall performance of the business with all the normal functionsperformed by a Managing Director, with the additional duties ofCompany Secretary.
With decades of experience, and beinghighly invested himself in BYH (6,500,000 shares - 4.23% of thecompany + options + performance right), I believe we are in VERY ABLEhands to bring BYH to the next level
More info can be seenon his linkedin page …
Now,I understand some downrampers on this thread will ask for proof ofhis success … (Obviously they are referring to SP success.
NeilMarston took Horseshoe Metals Ltd from an initial IPO price of approx0.25 to a peak of approx 0.68 (Thats a nice few bags), however, it isa fact that this momentum was not maintained. Downrampers will ofcourse point to this... Now, I have not studied in-depth the whole 10years of Horseshoe Metals, so am unable to speculate what caused itsdemise, but what I have learnt from other MD's who have come fromless successful companies, is that they bring with them an ABUNDANCEof experience and knowledge of what to avoid in their new ventures.And it seems to me that NEIL is heading BYH in the right directionfor potential success...
AndI must also say, I am very impressed with the current uptrend of BYHthis year...
Whatmore could you want in a junior gold / copper explorer on the ASXwith so much potential with an unbelievably undervalued MC of$10Mil?
Asone poster would put it, "10 million mc is laughable consideringso many other specs have less money plus 5-10x more soi & aretrading at 20-30million mc"
WEhave $3 Mil Cash to further explore, $5 Mil on its way (JV), possibly20-25 Mil (Tublegum South) with an SOI of 150 Mil.... OMG!!!
Iam seriously buying up all I can under 7 cents, as I don't see us atthis ridiculous price for much longer
Andplease add to this thread with any informative/ educationalinput you maybe able to share with "us newbies"
Weare all here learn and make wise Investment Decisions...
Anybodyreading this thread, please join in the constructive / educational /and informative discussions... There are some very talented postershere that I recognise from other company threads which have becomevery successful and multi-bagged!! (But please ignore the noise froma probably "paid" downramper) - The simple solution to onlyread great posts is to utilise the IGNORE button that HC hasgraciously gifted us with to block out the noise of a certainfew...
I look forward to making money with you all, andenjoying the journey
