Write to WR and express your disappointment. I did last time they didn't offer to us. One day management might listen. Share price may not have dived so much if they had.
I hold FRS as well and we just participated in a SPP.
Bit of a rip for retail investors I would of liked the placement to give exist holders like me the chance to buy them. Cant believe the SP was at 2.95 this morning now its at 2.60
Oh well maybe by 2010 this could be at $10
What's up these fricken mining company doing dodgy fund raising that give institutions investors honeymoon treatment. I just have TMR pulling the same stunt.
Next time they raise fund i'm getting the hell out
What's up these fricken mining company doing dodgy fund raising that give institutions investors honeymoon treatment. I just have TMR pulling the same stunt.
Next time they raise fund i'm getting the hell out
Placement to 'sophisticated investors" or will they let holders get their hands on a few at a discount. How much do they need ?
Ill take a punt on @ $2.50 Why? cause its a nice round figure!
Brockman Market Cap is now:
93.8M + 45M (@ $2.50) = 138.8M shares full diluted.
138.8 x $2.62 = $363.66M
Brockman Market Cap is now:
93.8M + 45M (@ $2.50) = 138.8M shares full diluted.
138.8 x $2.62 = $363.66M
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Some comparisons:
Atlas Market Cap: 286.4M + 30.8M options = 316.8M shares full diluted.
Current Market Cap: $3.75 x 316.8M = $1188M
Sundance Resources: 1873.42M + 93.5M opts = 1966.92 fully diluted.
Current Market Cap: $0.44 x 1276.92 = $865.45M
Gindalbie Market Cap: 512.38M + 16.75M opts = 529.13M fully diluted.
Current Market Cap: $1.565 x 529.13 = $828.09M
Flinders Mines (former FDL): 1100.63M + 377.26M = 1477.89M diluted
Current Market Cap: $0.24 x 1477.89 = $354.69M (and not a hole drilled)
United Minerals: 132.77M + 20.39M opts = 153.16M full diluted.
Current Market Cap: $1.835 x 153.16 = $281.05M
Territory Resources: 264.6M + 17.08M opts = 281.68M fully diluted.
Current Market Cap: $0.82 x 281.68 = $230.98M
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Of course there are others somebody can add in if they are so inclined.
Based on some of the above, Brockman is probably fairly valued at the moment compared to most of it's peers for it's initial 2mta operation. Somewhere close to Atlas' cap in 12 months may be expected for Brockman (on a quick and simple comparison) ?
well now its dipped to 2.45, major instituations must be hurting just like the little guys(like me) from the captail raising. Does anyone know when we can expect some positive news?
hovering close to where I first bought in, $2.40 now thats a discounted price
Will anyone attend the General meeting on 7th july?
Brockman Resources (BRM) ; Southern Cross Equities; Speculative recommendation with high risk/high reward; No share price target; Last traded at $2.39
SOUTHERN Cross analysts note that Brockman Resources, which is developing the Marillana iron ore deposit in the Pilbara, appears undervalued compared to its peers, with access to infrastructure one of its main hurdles.
The broking house observed that the Marillana deposit was of insufficient scale to justify dedicated infrastructure and it was necessary for it to piggyback on existing networks in the region, which had so far remained closed to anyone outside of the BHP/Rio stranglehold. The BHP rail line runs through the lease, and Fortescue Metals Group's rail line is only 35km away. However, both are running flat out and are unlikely to accommodate a new player. A mine gate sale agreement could be an alternative.
"With one of the largest hematitic resources, albeit low-grade, of an ASX-listed iron ore junior, BRM appears undervalued compared to some of its peers. BRM is trading at $0.43 per tonne of shippable ore (550 million tonnes) compared to the sector average of $6.29 per tonne.
Clearly the uncertainty over infrastructure and the ability to successfully beneficiate what amounts to 95 per cent of the resource is justification for a discount," Southern Cross told clients.
Further resource upgrades, successful test work and progress with an infrastructure agreement should de-risk the concept and potentially support a re-rating. Southern Cross labelled BRM as a speculative high-risk/high-reward situation.
why are they stating 500million tonnes?
BRM came out with 1.1Billion tonnes in march for Marillana
500million tonne can easily be beneficated to higher grade ore. The balance is lower grade (apart from the 50 million of DSO), and won't be touched for another 20yrs I'm guessing. Still probably worth something, but they chose not to put any value on it. It is a strong buy, by the way from Southern Cross.
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