BRM - Brockman Resources

[monkeybusiness]

Thought it was the railway announcement due at the end of this month, will re-listen.
cheers monkeybusiness

 

[Gspot]

You would think Mr Richards would be making this a very attractive buy for his old mates at BHPB. With their railway running right through this deposit, why wouldn't BHP want it?

 

[grace]

Need to hold key support today at $1.68 which is October 07 high. Seems to have found support there at the moment.

Wayne has been busy lining up staff for the project.

Western Australian iron ore company, Brockman Resources Limited (ASX Code: BRM), has added further depth to its senior management team with the appointment of experienced project management executive, Mr Paul Bartlett, to the newly created position of General Manager –
Project Development.

Mr Bartlett has 33 years experience in engineering, construction and mining operations in the resource sector, and joins Brockman from a senior role with project management, engineering and construction specialists, Calibre Projects Pty Ltd.

He has extensive experience in the Western Australian iron ore industry, having played key project management roles for Calibre Projects, JR Engineering and Roche Mining at projects including the West Angelas 25mt/annum expansion project, the Marandoo Upgrade Project, the
Yandi Expansion project and the Rio Tinto Brockman No. 2 Plant Upgrade.

 

[grace]

You would think Mr Richards would be making this a very attractive buy for his old mates at BHPB. With their railway running right through this deposit, why wouldn't BHP want it?

BHP have said they will take mine gate sales. This leaves outsiders in a bit of a bad position though IMO. BHP have plenty of their own Iron Ore to ramp up production elsewhere. I guess we'll have to wait and see how it plays out though. It is certainly handy to BHP.

 

[grace]

The robots have appeared. Sales going through for 1 share at a time, and plenty under 20 shares. Take a look at the course of sales.

Someone trying to manipulate the price perhaps.

 

[Fed23]

I cant see sales going through on my online broker, but the volume of shares changing hands has been very low for the last few days.

Any idea when the next accouncement is due?

 

[grace]

I cant see sales going through on my online broker, but the volume of shares changing hands has been very low for the last few days.

Any idea when the next accouncement is due?

Mining study is due end of Q1. Wonder though whether they will rework the figures now that they have a bit more ore up their sleeve.

 

[monkeybusiness]

Announcement is due at the end of 1st 1/4 on the logistics of transporting the resources out!
cheers

 

[eric35]

BRM has dived today. But the volume over the last few days was low, not many sellers. I hope it gets close to the recent high again (too optimistic?).
If I get stopped out, I will get in again at the lowest possible price.

 

[grace]

BRM has dived today. But the volume over the last few days was low, not many sellers. I hope it gets close to the recent high again (too optimistic?).
If I get stopped out, I will get in again at the lowest possible price.

Consolidating at the moment. Danger if breaks below $1.68 (last years high), so all good at the moment closing at $1.85. MD is in China for 3 weeks. Wonder what he's up to...

 

[inefekt]

Bought in today at 1.955
Not happy to see it close at 1.85
What's up with this stock, yesterday it went crazy......why? Today it get's hammered, again why?
Isn't there supposed to be an announcement due this month, upgraded resources or something??? I bought in on that supposition, thinking it would be either today or Monday. I can't believe a stock like AGO is up near the same level as BRM, with more shares on issue and only 10% of the Fe in the ground that BRM has. Crazy. Where are the fundamentals these days.........damned day traders.

 

[eric35]

I got stopped out today at 1.91, bought back in again at 1.86
I think it is a stock keeping an eye on, it may jump very quickly again.

 

[juw177]

I got stopped out today at 1.91, bought back in again at 1.86
I think it is a stock keeping an eye on, it may jump very quickly again.

So why do you use a stop at all if you are so attached to the stock? Stops are used because you want to get out early once you realise you traded on the wrong side. Sorry I couldnt help writing that.

I suppose you see today's drop as a shakeout?

 

[eric35]

I had an automatic stop loss in since I bought the stock, thus got stopped out. But then again, I can't see anything wrong with buying in again at a lower price.

 

[pajm]

Patience seems to be the thing here while awaiting results with scoping study and confirmation (hopefully) of Chinese and infrastructure deals. Hopefully MD trip brings goods news on the former.

 

[grace]

Two lots of Chinese "groups" have signed confidentiality agreements with Brockman. We don't know what about, but you can be assured that it is important. MD gets approaches all of the time from Chinese wanting in (see previous announcements/interview with MD on BRR from memory), but he says no need for now. Plenty of money in the kitty.

Although no rail agreement in place, he has been working on this but always said he wanted to wait to see how much ore Brockman had before getting serious about this. Now we know the majority of ore (still some to go though) you can be assured he will be on the job! MD was BHP iron ore chief, and also worked with triggy in the past. He has a nice resume!

MD said he is going to accelerate the project. Let's hope he does.

This is one of my holdings I least worry about....adding to that it is rediculously undervalued based on comparison to peers.

By the way, it will go into a trading halt/suspension when any such rail agreement is in place, so if you are not in before, save up more for later!

I'm a medium term trader so this stategy would not suit some!

 

[pajm]

It will be interesting to see Grace what eventuates with a rail agreement. Can see further anns pushing the sp quickly going by last ann and what is to come. I'm happy to sit as a long term holder. Came across BRM in article in Age newspaper by Barry Fitzgerald last July at time of MD appt. - pretty much sold on immediately.

 

[grace]

It will be interesting to see Grace what eventuates with a rail agreement. Can see further anns pushing the sp quickly going by last ann and what is to come. I'm happy to sit as a long term holder. Came across BRM in article in Age newspaper by Barry Fitzgerald last July at time of MD appt. - pretty much sold on immediately.

Hello pajm. Mining is planned to start next year so I don't plan on selling any time soon either.

My initial entry last year was based on
- MD resume
- location of BHP rail line (straight through it) and FMG rail 35kms away.

Still hold the same view that these two factors will get Brockman over the line compared to other juniors.

Bigger times ahead hopefully.

 

[pajm]

Hi Grace - I was also impressed with MD background and location of resource, outlined in the Fitzgerald article. BRM seems to have really jumped out of the junior pack with the last upgrade and seems well undervalued compared to other juniors (ago etc.). Would be good for JP holding to be out in the open (presuming it is him) to give things a further boost. Loaded-up a couple of times, each time unluckily at the higher end prior to last updgrade, however well and truely makes it all now cheap for me with sp. going nth. since. All signs looking good.

 

[Crash]

Always expect late announcements from BRM - having all that extra ore only drags it out further.