BRM - Brockman Resources
- Thread starter Crash
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A clarification letter came out too at 5:11pm which most people may have missed.
Basically stated a typo in the quarterlys valuing the company at $1.18 instead of the correct value of $1.81.
A secondary broker has put a valuation of $2.16 on BRM.
So based on this, and it's current price of $0.80, would I be fairly safe in saying that BRM is a strong buy at current prices?
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Test the analysts, call them and offer them BRM shares for $1.50 and see if they will buy them at a discount to their recommendation.
Analysts recommendations are akin to betting odds in the newspaper,Both offer research and recommendations on a best endeavors basis only with no responsibility taken for accuracy.
That isnt to say that i do not sincerely want my BRM shares to increase in value sooner rather than later.
Analysts recommendations are akin to betting odds in the newspaper,Both offer research and recommendations on a best endeavors basis only with no responsibility taken for accuracy.
That isnt to say that i do not sincerely want my BRM shares to increase in value sooner rather than later.
Test the analysts, call them and offer them BRM shares for $1.50 and see if they will buy them at a discount to their recommendation.
Analysts recommendations are akin to betting odds in the newspaper,Both offer research and recommendations on a best endeavors basis only with no responsibility taken for accuracy.
That isnt to say that i do not sincerely want my BRM shares to increase in value sooner rather than later.
Of course they won't if they are being publically traded for $0.80, but it is at least a solid recommendation that the company is worth more then the public currently perceives it to be.
I am much happier to invest in BRM with a reputable broker recommendation behind it, otherwise it could very much be considered a gamble.
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I am watching but not sure there is anything significant enough to comment on. Drifting up, down and around along with the rest of the market.
A resource upgrade is flagged to be announced in February. Not sure the market has factored anything into this.. as BRM has just been swept up in overwhelming Bear sentiment. Anything over an additional 20MT upgrade will see the EV/Tonne drift into the cents/tonne. That's a new mark for any junior Fe player with a JORC to my knowledge.
Due this month, revised JORC for Marillana, and initial resource estimate for Rockhole Bore and Abalone prospects. Hopefully it will be a pleasant surprise. I hold (albeit painfully).
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A couple of good days for BRM in the run up to the expected resource upgrade - question is what way will the market go on the announcement?
Been good movement in the last week - it hit $1.18 this morning.
If they hold true to their "Feb resource upgrade" there is only 3 days left for the announcement to come out.
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1/2 y account figures out.... still looks healthy enough roll on resource updates to see this rise to where it should be. One point that worries me tho is the silence about carr boyd, big hype last yr now silence.
SEMPER UBI SUB UBI
SEMPER UBI SUB UBI
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look at past resource upgrades from companies like Polaris i think if it is more than likely to be a positive thing,
drilling also to commence 1Q march i read in activities report
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I know they havent stuck to it before when they said something was going to happen in a particular month, so it may not come for some weeks yet.
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What a good day to hold a trading halt,
looks as though the resource upgrade we have been expecting is to be released soon!
edit - wednesday!
looks as though the resource upgrade we have been expecting is to be released soon!
edit - wednesday!
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The Age
Brockman ResourcesBROCKMAN Resources (BRM) chief Wayne Richards is to fly from Perth to the eastern states mid-week. The reason is not clear, but you can bet he isn't coming to take in a mid-week race meeting.
What is known is that Richards, formerly an iron ore gun in the Pilbara with BHP Billiton, has flagged that in late February/early March the group would provide an update on the resource base of its Marillana iron ore project, one that is cut across by BHP's iron ore rail line to Port Hedland.
Marillana was upgraded in November to a more-than-handy 43.5 million tonnes of the so-called channel iron ore and there has been aggressive drilling since, as well as lots of work on the potential for the low-grade detrital mineralisation that overlays the channel iron ore to become part of the picture.
Simple screening and gravity separation allows detrital iron ore to be upgraded from 40-50% iron to more than 60% - the sort of stuff that attracts top dollar. Assuming Brockman has had further success in its tests, the initial target Richards set on his arrival last year of an initial indicated resource of 100 million tonnes at Marillana could well be in the bag, maybe many times over. We'll know this week.
Remembering that iron ore price rises of more than 65% have been secured in recent negotiations, Pilbara iron ore is worth between $92 a tonne (fines) and $120 a tonne (lump). So having 43.5 million tonnes is good, 100 million tonnes-plus is even better.
Ahead of Richards' tour east, Brockman shares closed at $1.13 on Friday, giving it a market cap of about $90 million.
Brockman ResourcesBROCKMAN Resources (BRM) chief Wayne Richards is to fly from Perth to the eastern states mid-week. The reason is not clear, but you can bet he isn't coming to take in a mid-week race meeting.
What is known is that Richards, formerly an iron ore gun in the Pilbara with BHP Billiton, has flagged that in late February/early March the group would provide an update on the resource base of its Marillana iron ore project, one that is cut across by BHP's iron ore rail line to Port Hedland.
Marillana was upgraded in November to a more-than-handy 43.5 million tonnes of the so-called channel iron ore and there has been aggressive drilling since, as well as lots of work on the potential for the low-grade detrital mineralisation that overlays the channel iron ore to become part of the picture.
Simple screening and gravity separation allows detrital iron ore to be upgraded from 40-50% iron to more than 60% - the sort of stuff that attracts top dollar. Assuming Brockman has had further success in its tests, the initial target Richards set on his arrival last year of an initial indicated resource of 100 million tonnes at Marillana could well be in the bag, maybe many times over. We'll know this week.
Remembering that iron ore price rises of more than 65% have been secured in recent negotiations, Pilbara iron ore is worth between $92 a tonne (fines) and $120 a tonne (lump). So having 43.5 million tonnes is good, 100 million tonnes-plus is even better.
Ahead of Richards' tour east, Brockman shares closed at $1.13 on Friday, giving it a market cap of about $90 million.
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Patersons released a broker report out on their website
http://www.brockman.com.au/documents/Patersons_BRM_240108.pdf
IAP is 1.20
Pattersons estimates 80 to 100 million tonnes of upgradeable material which will result in up to 40 MT of saleable product.
Looking foward to tomorrow.
http://www.brockman.com.au/documents/Patersons_BRM_240108.pdf
IAP is 1.20
Pattersons estimates 80 to 100 million tonnes of upgradeable material which will result in up to 40 MT of saleable product.
Looking foward to tomorrow.
Sean K
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Good work grace. Match is 150 at the moment and rising. Hooly dooly. Wonder if traders will push it parabolic. Beware of spike and sell off. Or, golly, what's it fundamentally worth now??
