BRM - Brockman Resources

[Family_Guy]

Holders of BRM.......todays announcement of 2nd stage of mine production........how long does something like that take? Could we see a rally on this stock with things swinging into some sort of action?

 

[Sean K]

Holders of BRM.......todays announcement of 2nd stage of mine production........how long does something like that take? Could we see a rally on this stock with things swinging into some sort of action?

It's not actually mine 'production' but just furthering the project towards development. They are still in the feasability stage, with no physical development of a mine at all.

work to commence immediately and the Study Report to be submitted in June 2009.

and:

In parallel with the Stage 2 PFS, Brockman will be progressing a number of complementary development activities for the Marillana Project, including:

• Completion of all Environmental surveys and submission of the formal Environmental Impact Assessment for the Stage 2 Project;
• Finalising negotiation of a Mining Access Agreement with the Nyiyaparli Native Title Claimant Group to progress the grant of the Mining Lease. Brockman has already signed an agreement with the Martu Idja Banyjima – MIB Group;
• Continuing negotiations with third party rail infrastructure owners/operators for access and/or haulage agreements in accordance with regulatory processes; and
• Completion of the Scoping Study on the development of the port berths and associated facilities at Port Hedland (as part of the North West Iron Ore Alliance).

So, it's all paper shuffling till June 09.

Might see some action on this if IO spot price turns around, or there's some T/O speculation/interest from a major.

 

[Sean K]

Has a floor been set here?

Is the cash enough to hold it at least at this level, even if the market deteriorates further?

Is this good for some short term trading for a % here and there since it's stabilised?

Hmmmm

 

[bas]

Have been holding for a couple of weeks. Cash is nice to have, removes any possibility of a cheap issue being done.

Any corporate activity in the sector or a better than expected result for iron ore prices could be the spark for this little stock.

I am actually in profit on this- nice change- will be holding for a while longer yet i think.

 

[Boggo]

It popped its head up in one of my scans on the weekend, quite a few low priced stocks starting to trigger a few of my systems.

 

[justiceotp]

This has been slowly creeping up over the last few weeks, and I also noticed an increase in volumes over the last 3 days.

 

[Family_Guy]

Yes, i was trading this in the high 40's early 50's and am spewing i sold before it took off. But at least i didnt lose. You know when you sell and it takes off?? Happens to me all the bloody time. Good stock and still worth more on cash in bank. I'll wait for the next drop.

 

[grace]

Yes, i was trading this in the high 40's early 50's and am spewing i sold before it took off. But at least i didnt lose. You know when you sell and it takes off?? Happens to me all the bloody time. Good stock and still worth more on cash in bank. I'll wait for the next drop.

A bit of spirited buying now taking place. I wonder what the interest was today when most iron ore stocks were down....except IOH in trading halt until Monday????

Well there you go, anyway back to my buying price of 80c. Dreams can come true.

 

[justiceotp]

Yes this one has been interesting of late has just been slowly working its way up and then today with very nice gains and volumes over 1 mil in shares yesterday and then today 1.8 mil.

 

[TheAbyss]

A bit of spirited buying now taking place. I wonder what the interest was today when most iron ore stocks were down....except IOH in trading halt until Monday????

Well there you go, anyway back to my buying price of 80c. Dreams can come true.

There was an article today reporting that BRM have engaged UBS to act as advisors to BRM in developing a long term company plan.

Plus they highlighted the $103m uncommitted cash reserves vs the current market capitalisation of $96m

Richards is a canny one.

Link to article here

http://www.theaustralian.news.com.au/business/story/0,28124,24885134-5005200,00.html

 

[abcboy]

Interesting to see some rather large trades go through today. One parcel of 1,000,000 units ($950k) just went through!

The volume for this one over the past few days has been higher than usual. That announcement re: UBS looks like it brought some attention to BRM.

 

[Sean K]

One of the few good bets when it was around 50 cents.

I didn't buy enough, and didn't top up on break ups, and I'm an idiot.

 

[shag]

well i listened to yr hints kennas, tho i only got in finally a few days ago on a weak period of the day. and i bought too few.
u'd assume this being austalia that something fishy is happening.
a lot of these small miners/prospects are showing what i think u tech doods call a cup shape.
i must learn tech trading this yr.

 

[Go Nuke]

One of the few good bets when it was around 50 cents.

I didn't buy enough, and didn't top up on break ups, and I'm an idiot.

YOUR AN IDIOT KENNAS........
Ha...at least you didnt buy in at $3.... like..um someone around here...

 

[justiceotp]

Yes I noticed the volume increase was interesting the last couple of days and then 4.4 mil today with some large buys makes you wonder who is buying in.

Well I'm happy anyway I averaged this one down and bought one of my biggest lots at 41.5 cents.

 

[YELNATS]

Ha...at least you didnt buy in at $3.... like..um someone around here...

Well at least I sold at around $3.15 last March, one of the few good things I've done in the last 12 months. But you may yet get your money back, dude !!

 

[basilio]

Still rising steadily. It's now over cash value (which at least makes sense) but the question remains is there a real operation within sight? Or is the buying in anticipation of a takeover at a relatively low price.

Any ideas ??

 

[Sean K]

Still rising steadily. It's now over cash value (which at least makes sense) but the question remains is there a real operation within sight? Or is the buying in anticipation of a takeover at a relatively low price.

Any ideas ??

Real operation will depend on possible contracted off take agreements verses the capex/opex, which are all in the air.

The MC being under cash position with lots of good dirt in the ground was a no brainer, like a few others out there.

Could fall back again on overall market sentiment failure which to me will be another buying opportunity.

 

[Wilson!]

Evening all.
I have an ok to decent size position in brm and very pleased with movements over the last week especially.

The buying has continued to push this up into the 90's and on the verge of a break above $1.00

The push has been impressive as often it's pulled back and with a weak few lines on the immediate buy side lines, has managed to continue to rise

Closing on the high today will turn a few heads and trigger a buy I'd imagine
AGO was up nicely today also so maybe the IO mid and small caps could be starting a return to form

I'm a pretty lame chartist but from what I can tell an immediate target ST could be $1.20

Hope everyone's doing well in this ever changing market

Cheers,
Wilson

 

[Buddy]

One of the few good bets when it was around 50 cents.

I didn't buy enough, and didn't top up on break ups, and I'm an idiot.

Ha, kennas. You're no idiot. I'm the idiot
I sold about 2/3 of my current stock just when you were buying just before Christmas. I thought, ah bugger it, this is going to hang around 50c or lower for a while, so I might as well use the cash elsewhere and buy in later. Dumb, dumb, dumb! The olny redeeming factor is that I bought them around 20c some time ago and they owe me nothing ---profit is profit, and I still have some left.

Maybe I should let ASFers know when I am selling, that way you know when to buy.