BRB - Breaker Resources

[greggles]

BRB offloads its remaining interest in the Manna Lithium JV to GL1 for $60 million in cash and a 1.5% NSR.

After payment is made BRB will have cash at hand of around $82 million, not to mention accumulated losses of almost $70 million and gold reserves of ~2 million ounces.

Some shareholders are unhappy with this deal, but $82 million in cash will give BRB a lot of power to make targeted acquisitions as well as progress its Lake Roe gold project.

 

[finicky]

Hadn't followed this thread, probably should've, but I knew that BRB deeply dIsappointed punters some time back and a couple of guru posters elsewhere got egg on their faces. But came across it today after a commercial tipster was alluding in code to GL1 and its shareholder Mineral Resources (MIN) and their Lithium venture. So following up on that I found that BRB was the beneficiary to the tune of $60m from the sale of its stake in the lithium tenement to GL1. Breaker still has the gold rights to that tenement too as well as a 1.5% nsr on the lithium. I see that others on this thread have already described this.
Anyway with $78m in cash at 30 Jan and today's market cap at $90m it's sure got my interest now with a gold resource of 1.7m ozs @ 1.6g/t called Bombora. Initial pit concept with u/g prospects after that.

Not Held

 

[finicky]

Takeover bid in by RMS. All scrip valued at 40c per BRB share. Board approves - probably a big payout for them. Shareholders of BRB seem almost unanimously unhappy. BRB's Bombora deposit looks close to Ramelius owned 'Rebecca', so plays into Ramelius' 3rd hub ambition.

Not Held
Hold RMS

 

[System]

On June 1st, 2023, Breaker Resources NL (BRB) was removed from the ASX's Official List in accordance with Listing Rule 17.14, following compulsory acquisition of its remaining securities by Ramelius Resources Limited (RMS).