# BMG - BMG Resources



## System (3 March 2011)

Brazilian Metals Group Limited (BMG), formerly known as Lefroy Resources Limited (LEF), is a Perth based company listed on the ASX.  It is focussed on the Rio Pardo Iron Ore project in Brazil.

Previous discussion of this company can be found in the LEF thread: https://www.aussiestockforums.com/forums/showthread.php?t=5126

http://www.bmgl.com.au


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## hamiltino (14 September 2011)

*BMG - Brazilian Metal Group Limited undervalued?*

I just read this article:

http://www.proactiveinvestors.com.au/companies/news/19464/brazilian-metals-group-undervalued-in-brazil-regional-iron-ore-transactions-at-high-multiples-19464.html

What do guys think of the current state of this company. Are they really undervalued?
I actually bought them a few months ago at 37c and made a loss. but @10c seems to be a good buy seeing as their potential and low costs for production seem quite positive. But time will tell.


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## springhill (17 April 2013)

*Re: BMG - Brazilian Metals Group*

I made some good coin on BMG when it was known as Lefroy. It seems to be calling me to return to its fold, but I must resist the lure of The Sirens.

Announcement out today that tends towards this being a decent stock for a speculative punt on future drilling results.

*HIGH GRADE ASSAYS RETURNED AT TREASURE COPPER-GOLD PROJECT*
 Recent rock chip sampling at the Black Pine area has returned very strong copper-gold-nickelcobalt assay results, consistent with known mineralisation
 New very high-grade gold (18.25 g/t Au) and nickel (1.98 % Ni) assay results collected from Eastern Lode at Black Pine - Pevkos Prospect
 Rock chip assays from Black Pine - Laxia Prospect confirm consistently strong copper-gold mineralisation across all eight samples, with copper grades (and associated gold) ranging from 0.44 % copper (9.47 g/t gold) to 1.37 % copper (0.56 g/t gold)
 Contract for initial drilling programme awarded with drilling scheduled to commence at Black Pine

Unfortunately with the last capital raising (430m shares @1c for $4.3m) the dilution puts the company into an area I am not comfortable investing in.
With a market cap of $6m and cash holdings now around $4m, the MC:Cash ratio is good and should well fund an exploration program. The 600m shares on issue figure is just too high, I have been caught making exceptions for stocks like this before and generally it doesn't end so well.

Lesson learnt. I will stick with what I know, but wouldn't be surprised to see BMG do ok in the short-to-mid term.


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## System (17 December 2013)

On December 17th, 2013, Brazilian Metals Group Limited changed its name to BMG Resources Limited.


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## greggles (5 March 2018)

BMG Resources has announced that it will not proceed with its planned acquisition of mineral projects in Bulgaria after completing its due diligence enquiries. BMG has been in voluntary suspension since early January when it first announced the potential acquisition.

Share price is down 38.10% to 1.3c this morning.


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## tinhat (30 November 2020)

Holy crap. I got an email today that I have bought some of this company. Was I drunk when I placed the buy order? Most likely. I see the board are mainly investment bankers. Golly gosh.

Here is the Chairperson. I bet the photographer said "mate you can't wear that blazer. It will throw a Moiré pattern over the punters screens. Throw it over your shoulder".


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## tinhat (12 December 2020)

Lord Flashheart was here.


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## frugal.rock (26 April 2022)

Big day.
Market liked the announcement.
Still holding @tinhat ?


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