BRM - Brockman Resources

[trillionaire#1]

been looking very strong since i was stopped out at 86cents

i think there was some support around $1.40 in aug/sep 08
maybe this will be the new resisitance in this current climate.

 

[Sean K]

Another nice day again today. Im not a charter but what do you guys think of this now on the charts?

Was an interesting day. Lots of buying support intraday and finished at it's top. I was concerned we might see an abondoned baby or evening star. Wouldn't want to see a red candle down through support anytime soon. I actually don't hold great hope that it will continue onward from here. $1.25 is some significant resistance and you'd expect (and probably hope) for some consolidation around here, above the previous significant resistance to give it some more stability for the next leg up. As much as we might like to see things go parabolic, it's not healthy for long term gains.

 

[Sean K]

$1.25 is some significant resistance and you'd expect (and probably hope) for some consolidation around here, above the previous significant resistance to give it some more stability for the next leg up. As much as we might like to see things go parabolic, it's not healthy for long term gains.

Getting what I wished for at the moment. Just need this to break up from this consolidation, and not down! And certainly not back down through $1.10 now support.

 

[eric35]

Damn, I do not know how to insert a graph

sorry

 

[JTLP]

Well this one has been bouncing around...and lo and behold...they are late on the benefication update. WR really needs to pull his finger out...he even flogged off shares on the day the ann was meant to come! Seriously...

This guy was thrown in there as an infrastructure expert or for something of that ilk...have we got any infrastructure? BRM need rail deals, ore deals and a benefication process to be successful.

Perhaps it hasn't been successful, they are waiting for the resource upgrade to get to a decent DSO tonnage and then will drop the ball...wouldn't that be an ouchie!

Also, HHL reducing holdings.

 

[Sean K]

Well this one has been bouncing around...and lo and behold...they are late on the benefication update. WR really needs to pull his finger out...he even flogged off shares on the day the ann was meant to come! Seriously...

This guy was thrown in there as an infrastructure expert or for something of that ilk...have we got any infrastructure? BRM need rail deals, ore deals and a benefication process to be successful.

Perhaps it hasn't been successful, they are waiting for the resource upgrade to get to a decent DSO tonnage and then will drop the ball...wouldn't that be an ouchie!

Also, HHL reducing holdings.

And still no metallergical results. Hmmm. And the resource upgrade should have come out too I think. Hmmm. HHL bailing. Hmmm. Market green. BRM off 4%. Hmmm

Only saving grace at the minute is that the $1.10 support has held well once. Hopefully it stays that way.

 

[eric35]

Does not look too promising at the moment. But it is in a steady uptrend. I like the small retracemet. over the last couple of days. Maybe a chance to get in again. I made a bit of money out of brm, over the last couple of months, just short term trading. lets see what it will do now. I am still positive.

 

[shag]

resource is out, 10pc dso, i presume thats ok? i'm too new and lazy to fe processes so a little meaningless, but i presume benefication aint hard.
bhp's line is convenient isnt it, god i'd be pissed if i was bhp and rio and all these smallies start clogging up my brand spanking new lines....
anyone know how they do it, ie a one way line, and two of them, or do they have two way traffic on the one line to allow for return of wagons? like once youre really rolling a two track system seems ideal, unless u have small sidings and very well timed and controlled trains.
the logistics of its pretty interesting.

 

[Sean K]

Well it's been ugraded significantly as you'd expect and the DSO portion looks pretty good.

Is there an extention of the DSO portion due at some stage, or is this it?


BROCKMAN ANNOUNCES 74% INCREASE IN MARILLANA INDICATED RESOURCES TO 605 MILLION TONNES

Substantial increase in Indicated Resources after inclusion of 2008 in-fill drilling results
More than 40% of the Mineral Resource at Marillana now classified as Indicated
Updated Indicated Resource includes 551Mt of beneficiation feed hematite detrital ore and 54.2Mt of Direct Shipping Ore (DSO) quality CID (Channel Iron Deposit)
Continuity of mineralisation provides improved confidence in resource definition and underpins ongoing project development
Total Inferred and Indicated Mineral Resource of 1.4 billion tonnes

 

[kpas]

It looks as though they are not including the DSO at Rockhole Bore in this latest announcement, thus there should be more DSO to be announced.

I recall the last upgrade being in the order of 70mt, so it is interesting that they are now only claiming 54.2mt.

Maybe they were not allowed to include the Rockhole Bore drilling as the analysis is not yet finished - or is the type of drilling they have done in that area not good enough?

Either way it is not a negative announcement, just probably not the one that the market is actually waiting on.

Also to note that the PFS is now due in July.

I'll continue to hold and buy on the dips as I am still confident in it's long term ability to get something happening.

 

[kpas]

The subsequent announcement clarified much of the above - so there should be more DSO to report.

Today is looking a bit better as it has broken up to $1.22, should see a strong close I would hope.

 

[JTLP]

BRM to me is lagging and will get left behind in the great Iron Ore race (btw I continue to hold...i'm so stupid really need to rethink my strategies!)

If you take a look at AGO it has been a very efficient outfit, updating the market VERY regularly, checking off deals, selling its ore and basically becoming a smooth operating outfit. Secured sales for them is great.

And what is BRM doing? Delayed ann's...Barely any updates on the important things that the market wants most...and just basically rehashing announcements. Quarterly barely inspired me...they have confidentiality agreements they say; why not sign off on some and get some of the ore sold?

Management is extremely lackluster (IMO) and I would like to see WR get the boot or shareholders give him a good shakeout by trying to vote him out. The guy's sole purpose was infrastructure in the beginning. Are BRM planning on moving the ore via 1000 workers on carts to the port?

Really need to pull the finger out...

 

[kpas]

I agree although I don't think it is that easy to change management.

Anyone got a list of the top 20 share holders?

 

[Sean K]

If I didn't think the overall market was due for a leg down then this is a decent set up. Bouncing off horizontal and uptrend support and a bit of a triangle forming there. Would be better if it was ascending or symetrical but anyway. A strong candle well through $1.20 would look good for a start. Breakdown through $1.10 looks ordinary.

 

[kpas]

If I didn't think the overall market was due for a leg down then this is a decent set up. Bouncing off horizontal and uptrend support and a bit of a triangle forming there. Would be better if it was ascending or symetrical but anyway. A strong candle well through $1.20 would look good for a start. Breakdown through $1.10 looks ordinary.

Kennas - you need to be careful with some of the end of day results, it's being manipulated somewhat at the close (on some days at least).

If you look through the daily trades, a lot of bot trading occurs as well, sometimes the only thing that does happen is bot trading.

So while I am still bullish on the long term outlook for this stock, they really need to pull their finger out and get some decent announcements to the market before it will truely be a solid investment.

I don't know about you guys but I am starting to wonder if Wayne Richards is really the right man for the job. He's had a hell of a long time to get something happening and we're really no further then we were 12+ months ago.

 

[JTLP]

BRM to me is lagging and will get left behind in the great Iron Ore race (btw I continue to hold...i'm so stupid really need to rethink my strategies!)

If you take a look at AGO it has been a very efficient outfit, updating the market VERY regularly, checking off deals, selling its ore and basically becoming a smooth operating outfit. Secured sales for them is great.

And what is BRM doing? Delayed ann's...Barely any updates on the important things that the market wants most...and just basically rehashing announcements. Quarterly barely inspired me...they have confidentiality agreements they say; why not sign off on some and get some of the ore sold?

Management is extremely lackluster (IMO) and I would like to see WR get the boot or shareholders give him a good shakeout by trying to vote him out. The guy's sole purpose was infrastructure in the beginning. Are BRM planning on moving the ore via 1000 workers on carts to the port?

Really need to pull the finger out...

Ipso Facto...I don't know why I am proud of this (because I hold) but my prediction of AGO being an efficient outfit who is well received by the market continues to ring true. BRM is just being punished (and rightly so) for basically doing nothing whilst everybody steams ahead in this (continual???) commodities recovery.

Holder's in this have to realise that until REAL things start to happen (that have been the talk for over a year) then this is destined to languish. Couple this with the fact that if something fails (Benefication, Rail etc) then you could be looking at quite a miserable time for BRM.

Any thoughts?

 

[enigmatic]

I'm hoping AGO aren't the ones to excel, I've got my money on BRM and AQA.. I have my preference on AQA though

 

[Sean K]

If I didn't think the overall market was due for a leg down then this is a decent set up. Bouncing off horizontal and uptrend support and a bit of a triangle forming there. Would be better if it was ascending or symetrical but anyway. A strong candle well through $1.20 would look good for a start. Breakdown through $1.10 looks ordinary.

Update.

Still hovering above the $1.10 support line and in a larger triangle now. With the market potentially going into retreat, I think it'll be had for BRM to hold the line.

 

[Viginti]

That triangle keeps on tightening....

That's an awful lot of stored energy (high school science, flooding back) - if the laws of nature hold it should be spectacular movement....if only we knew which way!!!

Stupidly set my stop at 1.10 and stopped out yesterday. Tried to get back in today at same price but no luck (though there was a bit of trade at that price).

Hopefully wont be too late on Monday.

 

[Go Nuke]

UH OH..........broken down through $1.10.
This doesn't look good for BRM holders
Next stop $1 imo.