BRM - Brockman Resources

[Go Nuke]

Anyone got any ideas as to why every other mining company is UP today...except BRM!

Surely it cant all be over that comment made about BRM not being able to share FMG's port?

 

[JTLP]

Where was that comment go nuke? Would like a read.

BRM might be down as UBS announced it was no longer a substantial holder...maybe flogging off their shares???

 

[grace]

Nice announement out today, an increase of resource by 40% to 1.6 Billion tonne. Market showing some appreciation.

And from WR

“With a resource of 1.6 billion tonnes, operations at Marillana now look set to span a very long life in the Pilbara, targeting a long-term production level of 15 to 25 million tonnes per annum or greater,” he said.

http://aspect.comsec.com.au/asxdata/20080821/pdf/00871591.pdf

As part of the recent drilling, a significant new zone of direct shipping CID mineralisation was intersected on five consecutive drill lines over a strike length of more than 2km at Abalone, with best intercepts including 10m @ 55.8% Fe, 10m @ 57.3% Fe, 9m @ 56.3% Fe and 5m @ 58.5% Fe. This mineralisation has not yet been separately modelled in this resource estimate as the hole spacing is too broad.

The revised estimate represents a 40% increase over the previously announced figure of 1.1 billion tonnes reported on 5 March 2008, and has the potential to increase the Marillana Project’s total estimated shipping inventory (Direct Shipping Ore plus beneficiated ore) to 952 million tonnes of marketable product grading 57.4-60.0% Fe. This represents an increase of 40% over the previously announced estimate of 680 million tonnes reported on 1 July 2008.

 

[Go Nuke]

Well it WAS shown some appreciation

Up 5% but still under $1.50 for a 1.6 Bil tonne project doesn't impress me much.
I'm still looking at a major loss.

Perhaps this will be the start of people taking more notice of BRM and buying up.
Insto's perhaps.
If the bank stocks keep going lower in the U.S maybe people will turn back to resources

 

[YELNATS]

When BRM announced the Total Mineral Resource estimate for Marillana as 1.1billion tonnes of iron ore on March 5th, the share price jumped a massive 203% from $1.06 the day before the trading halt to $3.21 the day trading resumed.

Now we have a significant 40% upgrade and the market hadly batted an eyelid.

Makes me think that today's closing price of $1.43 represents very good buying indeed, particularly when the value of today's ann sinks in.

 

[benwex]

When BRM announced the Total Mineral Resource estimate for Marillana as 1.1billion tonnes of iron ore on March 5th, the share price jumped a massive 203% from $1.06 the day before the trading halt to $3.21 the day trading resumed.

Now we have a significant 40% upgrade and the market hadly batted an eyelid.

Makes me think that today's closing price of $1.43 represents very good buying indeed, particularly when the value of today's ann sinks in.

That is one view....

Mine is somewhat more sceptical and see the dramatic difference expereinced in the sp from a good announcement is a keen measure of how this market has turned "big time".....

No daytraders on this announcement to me is the final indicator that the easy days are well and truelly over.

As a sentiment indicator this great news was unable to turn the tide on a strong bearish trend and unless BRM can get into production and catch the tail wind of the current IO prices I think it missed the boat by 2 years.....

benwex

 

[grace]

unless BRM can get into production and catch the tail wind of the current IO prices I think it missed the boat by 2 years.....

benwex

Well, that is the key isn't it. We need a key to the rail line actually. That's all we need. Stay tuned. WR said he wasn't making any deals until he knew how much ore BRM have at Marillana. Not quite finished drilling yet. Would be nice to measure up some more DSO first. I suspect we'll have a better idea before Christmas, and then first mining 2009.

WR is focused. Hasn't disappointed yet. Market sentiment will turn eventually. A decision by the government on third party use of the rail lines might be a near term catalyst for some turn around, should it be favourable.

 

[Real1ty]

That is one view....

Mine is somewhat more sceptical and see the dramatic difference expereinced in the sp from a good announcement is a keen measure of how this market has turned "big time".....

No daytraders on this announcement to me is the final indicator that the easy days are well and truelly over.

As a sentiment indicator this great news was unable to turn the tide on a strong bearish trend and unless BRM can get into production and catch the tail wind of the current IO prices I think it missed the boat by 2 years.....

benwex

I also agree with benwex.

The sentiment is terrible for i/o juniors and even AGO that had many resource upgrades and announced its deal for rail and port access, and it's plans on how they were negotiating contracts amid strong demand and would sell a certain amount into the spot market to maximise revenue yet the stock has since continued to drop.

There is virtually no news they could release that would make the market happy in this current sentiment.

I do believe it will turn eventually as long as we don't get any significant slowdown in China, but i have taken my losses and won't be back in until sentiment is proved to have turned once again.

Sadly it may be a long wait but good luck to all holders.

 

[gfresh]

Iron Ore up-and-comings will eventually reflect correct value, but only once they reach production, and producing cashflow. Anything else will be muted.

Just have to keep an eye on things as to which producers are slipping below the radar in 12 months.

 

[grace]

Well, it seems the US collapsed hedge fund held shares in Brockman. Could it be that they are liquidating?

US-based Ospraie Fund has been a major investor in Australian resources stocks in recent years. The failed hedge fund is believed to have held stakes in companies such as Iluka Resources, Consolidated Rutile, Murchison Metals and Brockman Resources at various times

 

[Go Nuke]

Well, it seems the US collapsed hedge fund held shares in Brockman. Could it be that they are liquidating?

That might explain some of the down trend, other than all commodities doing likewise.

BUT BRM has held up pretty well imo.

It has been up while my other stocks have been down thought the days.

 

[johnnyg]

Id say its just following the market trend. Look at FMG, AGO, BRM, FMS, JMS, BMY and pretty much any other Company related to Iron Ore is down 50% +, no matter how far advanced their projects are...........

 

[Gspot]

Fortescue wins court case against BHP, Rio

The High Court has ruled mining giants BHP Billiton and Rio Tinto must share their Australian iron ore rail networks with other miners.
Nice jump today, on very positive news. Me thinks it should run alot higher.

 

[Gspot]

Well me thinks this is big news, and I'm amused at sp and lack of talk about this.
With BHPB tracks running right through Marillana, quality/quantity IO at high prices and $100 million in the bank, $1.10 is a steal.
However fundamentals seem to be out the window on this one.

 

[kpas]

Well me thinks this is big news, and I'm amused at sp and lack of talk about this.
With BHPB tracks running right through Marillana, quality/quantity IO at high prices and $100 million in the bank, $1.10 is a steal.
However fundamentals seem to be out the window on this one.

Until the US stops crapping itself, fundamentals are out the door.

Plus there is still speculation on the table with the rail deal - it's not concrete yet.

While I love BRM & will continue to hold I won't hold my breath until the infrastructure is formally announced by the company, too many false starts on this one which are just annoying.

 

[fordxbt]

this bastards' also got a long way to recover like other specs
youve got to remember victory over BHP will affect their major project, Marillana with an awesome 950 mT DSO (roughly the same as FMGs christmas creek + cloud break)
with their NW Port Alliance, close proximity to rail and insane JORC figures it would seem they are moving along nicely but in the current climate it seems good news only lasts a single trading day then its forgotten in a cloud of sellers

 

[kpas]

this bastards' also got a long way to recover like other specs
youve got to remember victory over BHP will affect their major project, Marillana with an awesome 950 mT DSO (roughly the same as FMGs christmas creek + cloud break)
with their NW Port Alliance, close proximity to rail and insane JORC figures it would seem they are moving along nicely but in the current climate it seems good news only lasts a single trading day then its forgotten in a cloud of sellers

down another 10% today.

I hope US settles down but from what I am reading the next 2 weeks is going to see some major negative news come our way.

~80c marks the cash value of BRM though, so that should stand a fairly good solid base. I wouldn't imagine there would be many people selling BRM for less then 80c.

 

[YELNATS]

Fortescue wins court case against BHP, Rio

The High Court has ruled mining giants BHP Billiton and Rio Tinto must share their Australian iron ore rail networks with other miners.
Nice jump today, on very positive news. Me thinks it should run alot higher.

"Must share", but at what price? If they have to "share" I would imagine that BHP & RIO would charge the highest possible freight costs.

Reminds me a little of Telstra being ordered to "share" its' infrastructure with its' competitors Optus, Vodafone, etc.

 

[kpas]

New announcement which confirms the $110m in the bank.

Nothing else really that interesting other then that they are confirming they will push forth.

Maybe this announcement will put

a) market cap at close to cash backing
b) massive resource
c) close to securing infrastructure

out to some investors who didn't already know about BRM and the SP will move up.

 

[Gspot]

New announcement which confirms the $110m in the bank.

Nothing else really that interesting other then that they are confirming they will push forth.

Maybe this announcement will put

a) market cap at close to cash backing
b) massive resource
c) close to securing infrastructure

out to some investors who didn't already know about BRM and the SP will move up.

This is amazing.
Never thought they would get back to this sp, given their recent good news.
So their 950million tonne of DSO (3km from rail), plus about $40 million cash is worth nothing????
With the $oz so low, these companies are juicy as!