May 31, 2026 · 51 min
Kendrick advances Namibia rare-earth project after £1.76m raise
S11 Ep76: Sunday Roast featuring Hamak Strategy and Kendrick Resources #HAMA #KEN #TERN #BZT #XTR #AEG #ATN
The episode connects difficult market conditions with the high-risk search for resource companies capable of delivering major discoveries.
- 1Kendrick Resources plans drilling, testing and infrastructure work at its Bonnya rare-earths project in Namibia.
- 2The hosts weigh renewed IPO optimism against limited supply, geopolitical uncertainty and Britain’s worsening productivity challenges.
- 3Potential multibaggers can deliver exceptional returns, but junior-resource investing carries substantial exploration, financing and execution risks.
Don't miss
Colin Bird sets out how Kendrick intends to use its £1.76 million fundraise to advance Bonnya toward a maiden resource.
The brief
The Sunday Roast marks five years by comparing today’s harder stock-picking climate with the COVID-era bull market, while renewed IPO activity revives investor optimism.
A debate over a possible SpaceX IPO leads into questions about valuation, scarce share supply and ETF demand, before Ferrari’s electric strategy tests the limits of brand loyalty.
The hosts connect ceasefire developments and the Strait’s economic importance to Britain’s productivity problems, including weak skills pipelines and pressure on young workers.
Colin Bird discusses Kendrick Resources’ £1.76 million fundraise, near-surface mineralization at Bonnya in Namibia, and the drilling and testing needed for a maiden resource.
Weekly movers sharpen the central investment tension: Kendrick, Turn, Arc Minerals, Delta Gold, Byzant, Extract Resources and Active Energy Group may offer upside, but junior-resource risks remain substantial.
What was said on this episode
38 statements · 27 positive · 9 negative · 2 mixed
Phil assesses markets as having moved back into a bull market.
“now we're seeing massive signs of moving, you know, we've moved back into a bull market”
Listen at 1:30
Charles says bear markets create opportunities to buy shares cheaply.
“it's where you make your killing”
Listen at 2:19
Charles assesses broad markets as overvalued while some assets appear good value.
“everything seems so overvalued that some of it's just coming back to what looks like good value”
Listen at 3:19
Charles predicts SpaceX will surge after listing and then crash.
“I think it'll rocket and then absolutely crash.”
Listen at 3:31
Charles assesses SpaceX as severely overvalued.
“I think SpaceX is horrendously overvalued.”
Listen at 3:44
Charles predicts strong investment gains in SpaceX-dependent suppliers.
“I think there's going to be a load of money to be made on those companies.”
Listen at 4:22
Kevin predicts SpaceX shares will rise when listed due to ETF demand.
“it's going to go up, which is ridiculous, but that's what's going to happen.”
Listen at 4:48
Charles assesses SpaceX’s prospective listing valuation as excessive relative to revenue.
“The actual valuation is mental in terms of their revenue versus what they're gonna list at.”
Listen at 5:37
Charles predicts ETF inflows will purchase SpaceX shares after listing.
“all of that ETF money is going to buy up all the SpaceX shares”
Listen at 6:05
Charles assesses Ferrari shares as having performed poorly for an extended period.
“Ferrari shares have not been doing well for a long time anyway.”
Listen at 8:18
Charles warns Ferrari’s electric strategy could lose new and existing customers.
“you might find that you don't have any new customers like Jaguar did, and then all your old customers abandon you.”
Listen at 10:27
Charles predicts the Strait of Hormuz will reopen because closure would cause economic collapse.
“the strait has to open because if it doesn't, then we have total economic collapse ahead.”
Listen at 11:50
Charles expects the Strait of Hormuz to reopen by the end of June.
“I think hopefully by the end of, um, June the strait is open and this is behind us.”
Listen at 12:43
Charles says a Russia–Ukraine peace deal is very possible soon.
“Russia and Ukraine sign a peace deal in the next few weeks”
Listen at 13:16
Charles predicts peace developments would strongly benefit markets.
“And that would be quite good for the markets. Very, very good.”
Listen at 13:22
Charles assesses most university degrees as economically worthless outside specific fields.
“degrees are basically worthless now unless you're in specific fields”
Listen at 16:17
Charles predicts artificial intelligence will take all jobs.
“artificial intelligence taking all of the jobs.”
Listen at 16:21
Charles claims law graduates substantially outnumber available training contracts.
“There's 4 law graduates for every law training contract.”
Listen at 17:27
Charles says university is financially wasteful for academically average students.
“if you're not, if you're a B-grade student, then you're just going to waste your money.”
Listen at 17:41
Colin says Kendrick’s fundraise should finance work through its maiden resource.
“we've raised enough, we're pretty sure, to get us to our first maiden julk resource”
Listen at 29:39
Colin values Kendrick’s verified near-surface mineralization at $400 million.
“we were able to get at that valuation of 400 million.”
Listen at 31:24
Colin reports consistent mineralization grades of 3–3.5 TRIO across samples.
“what we're seeing with this body is so amazingly consistent at 3 to 3.5 TRIO.”
Listen at 32:28
Colin ranks Kendrick’s project among the world’s top three undeveloped rare-earth properties.
“it's certainly in the top 3 of the undeveloped rare earth properties in the world.”
Listen at 33:40
Colin expects Kendrick’s exploration work to continue at an accelerated pace.
“it can be summed up by very much of the same but faster.”
Listen at 35:46
Colin expects Kendrick’s Namibia development work to remain on budget and schedule.
“very, very bullish on being, being on budget, on time”
Listen at 37:02
Colin expects Namibia to become a leading rare-earth jurisdiction.
“let's hope Namibia is going to be a front runner in this, in this quest for rare earths.”
Listen at 37:51
Charles assesses Kendrick’s mineralization size and grade as established.
“the size and the grade, I think, can't be contested now.”
Listen at 38:38
Charles predicts Kendrick’s share price could rise substantially further.
“it could have so, so, so much further to run.”
Listen at 41:12
Charles predicts Red Capital will perform exceptionally over coming weeks.
“I think this one's gonna absolutely rock it over the next few weeks.”
Listen at 43:05
Charles expects Arc Minerals to recover toward a more reasonable valuation.
“I think, I think hopefully now we've put this behind us, it should, it should come back, you know, to a more reasonable valuation in the near future.”
Listen at 43:56
Charles predicts some current market companies could increase 100-fold.
“I reckon there's a few out there on the market right now in this environment that are, that are waiting for that 100x.”
Listen at 45:45
Phil predicts Kendrick could become a 100-bagger.
“I genuinely think Kendrick could do it, could do 100x.”
Listen at 46:04
Phil predicts Kendrick will soon test the 10p share-price level.
“once it breaks through the 10p mark, which it's going to be testing soon”
Listen at 46:16
Kevin predicts Extract Resources will become a ten-bagger within 12–18 months.
“I think Extract Resources is going to do it over the next 12 to 18 months”
Listen at 47:17
Kevin says low-cost electricity will be essential for AI projects.
“the ability to provide low-cost energy for these things is going to be absolutely fundamental.”
Listen at 47:45
Kevin predicts Lithosquare’s opportunity will exceed current expectations.
“I think the Lithosquare thing is going to be bigger than anybody believes.”
Listen at 48:04
Kevin assesses Paris Saint-Germain as the better team.
“I think PSG is a better team.”
Listen at 49:19
Kevin says Arsenal cannot beat PSG if PSG attack effectively.
“if PSG play offensively, you know, well, then I don't think Arsenal can beat them.”
Listen at 49:30
Statements are attributed to the speaker as said on the episode and reflect their view at the time, not PodLume's. They are not advice.
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