Note the 1 000 000 sales order in at $3.30. Looks a little bit obvious. Accumulation, then removal of this should get things higher....unless the US starts collapsing again of course!
At this stage $3 seems to be the resistance for BRM. It will be interesting to see if it keeps on climbing or if it does a quick drop like last time. I am very tempted to take profits now, but will hang in there and watch it carefully.
unless the US starts collapsing again of course!
A good day today for BRM with the Share Price hovering around $3 all day.
I see that the company released an excellent presentation today and Pattersons released their latest report that values BRM shares at $5.45 excluding and $7.79 including the Detrital ore.
Does anybody think the SP will get anywhere near this valuation over the next month or so?
A good day today for BRM with the Share Price hovering around $3 all day.
I see that the company released an excellent presentation today and Pattersons released their latest report that values BRM shares at $5.45 excluding and $7.79 including the Detrital ore.
Does anybody think the SP will get anywhere near this valuation over the next month or so?
Hm do you have a link to that Patterson's Report?
Presentation looks quite good however
thx
MS
$3 seems to the barrier that BRM can't break. Todays closing prices puts us back to 7th May close.
It's gonna take some great announcement from management I think to break the $3 mark. The $5.45 price target from Pattersons didnt make any postive impact on the SP.
The market is pricing BRM on the 56 mil tonnes as that is all they have. Add to this that it is deep and on the edge of the tenement!
The detritals are suss, they have had plenty of time to get results on the silica and alumina, they will get smashed if they announce that the detritals are not sellable.
The new Patersons report is now available on Brockmans website, and here is the link.
In their words "trading at an 89% discount to our DCF valuation of $5.45".
http://www.brockman.com.au/pdf/reports/broker_reports/PatersonsSecurities9May08.pdf
I think an updated fundamental sheet is due
YML
Yilgarn Mining
Shares: 60m + 20m 25c 30/6/07 opies
@20c Fully Dilluted Mkt Cap = $10m
@30c Fully Dilluted Mkt Cap = $24m
@40c Fully Dilluted Mkt Cap = $32m
@50c Fully Dilluted Mkt Cap = $40m
@$1 Fully Dilluted Mkt Cap = $80m
@$1.25 Fully Dilluted Mkt Cap = $100m
@$1.50 Fully Dilluted Mkt Cap = $120m
Has $4.5m in the Bank so no need for funds anytime soon
Projects
1. Rose Dam
Used this Gold project to generate $6.6m in cash, good cash cow and shows management knows how to get a project going
2. Irwin Hills
JV 40% YML 60% MRE, JORC 20Mt@ 1%Ni (Nickel) + 0.12%Co (Colbat)
High levels of Chloride so having trouble getting MRE to agrre to Toll Treatment at its Murrin-Murrin Plant, although its Laterite Nickel its not that bad as MRE is the Laterite King!
If they can get this Toll Treatement going it will be a real big cash cow!
3. Carr-Boyd
YML earning 51% from TIR (Now part of CSM Cons-Min) can earn up to 90%
JORC 600Kt's@ 1.4%Ni + 0.5%Cu all within 100m of the surface so open pittable!
Using an EV of $5 lb Nickel and $2 lb Cu this first pass JORC gives the deposit an In Ground Value of over $150m
4. MarillanaThis project is the SPEC KILLER!
Its an Iron Ore tennement 2kms west of the Brockman Deposit (225Mt@ 60% Fe)
Its old Hamersley Ground who outline a STRIKE OF 10KM's! Grading an avg 60% Fe! Width is probably 500m - 750m and thickness of the Iron Ore is 60m
Our Estimates so far are 1.4Billion Tonnes of Ore Grading 60% Fe
If we attribute 1% we get 14Mt@60% Fe
Use an In-Ground Value of $5t = $70m NPV
$10t= $140m NPV
$15t= $210m NPV
But Hamersley walked away from it 20years ago becasue the deposit is not at surface, its covered by 50m of top soil which is bad, but given current Iron Ore prices (ADD ANOTHER 10%) and the Sheer location of the deposit!Have a look at the presentations its surrounded by BHP, RIO, FMG and Hancock Mining!
Whats also very important is that BHP's Railway runs throught the deposit, so YML could feasibly only have to dig it up and truck it 2-3kms to the BHP Rail Line which runs straight to the Ports and given FMG's recent win in the Courts to use BHP's line I can't see why YML can't as well
East Sunrise (100% interest), 35 kms south of Laverton
Historical exploration has returned promising drill intersections including 14m at 10.2 gpt gold. Further drilling is planned for early 2007. Just food for thought.
Attributable Value
Irwin Hills @$2.50lb Ni =$50m, YML 40%= $20m
Remember Laterite (low grade) No Cap-Ex as can be treated at JV partner MRE's Murrin Murrin Plant,
Carr Boyd @ $5lb Ni + $2lb Cu = $150m, YML's up to 90%= $135m
JV with Cos Min, Excellent Open Pittable Options!
Marilliana @1% and @$10t= $140m,
Elephant Ground, possibly only 1% of total size, excellent Infrastructure with BHP Rail Running Straight passed deposit! 50m of top soil
Total = Approx $300m or $3.75c a share
I think my NPV's have been pretty conservative but am happy to discount the value I got to by another say 80% ie $3.75c x 0.2 = 75c YML
Undervalued or what? Thoughts?
lol Grace YOUNG Trader Investments first alerted the mkt to this back whne it was 16c in Dec 06
https://www.aussiestockforums.com/forums/showthread.php?t=3267&highlight=yml
And also released its valuation report on the 5th of Jan 2007, well before any of the experts were on it
Will just not break thru the $3 mark.
Its hung around in 2.90-2.97 for a few days. Now its fallen back to the support of $2.75.
It looks like we will have to wait for the next announcement to generate more interest from buyers. Until then it might be in the doldrums.
Does anybody know what happened with the "International Roadshow Presentation" (refer ASX announcement 12/5/08)? Is Wayne Richards taking this on the road and, if so, is it likely to generate more activity form institutional and/or overseas investors?
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