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BRO - Broad Investments

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adobee said:
Broad, which has picked up seven projects in WA, has no background in mining but executive chairman Vaz Hovanessian does. He was a mover behind the listings of Zephyr Minerals (now Ashburton Minerals) and Voyager Energy, which merged with Arc Energy two years ago.

........

I read the above in an article in the Australian.
PURE SPECULATION
Robin Bromby | March 24, 2007




Is anyone familiar with Vaz Hovanessian and his mining / resources experience ?
Click to expand...

Hi

Just do a google search and you will find a number of references to Vaz Hovanessian. He seems to be mostly a business man with an accounting background and he was involved in a number of IT companies.
On the Broad Investment website is their complete team, none of them with mining experience; Hovanessian's experience is stated as 25 years!

Hope this helps

Cheers

Taurisk
 
NAME OF SECURITYHOLDER # of Pangaea
Shares Held
# of Broad
Shares Offered
Andrews & Partners Pty Ltd
360,000 2,632,866
Andrew Drummond & Associates P/L 325,000 2,376,893
Angel International P/L 300,000 2,194,055
Geotech International Pty Ltd 1,600,000 11,701,626
Christopher Murphy 131,965 965,128
Eastern Pacific Navigation Co Ltd 2,056,592 15,000,000
Fulepp Superannuation Services P/L 70,000 511,946
George Francis Lee 2,000,000 14,267,032
George Isaac 600,000 4,388,110
International Finance Trust Limited 1,371,061 9,998,769
Iron Investments 2,466,667 18,040,009
Jaguar Resources Ltd 2,000,000 14,627,032
Kelray Properties P/L 150,000 1,097,027
Littleheath Pty Limited 500,000 3,656,758
MGG Capital Pty Ltd 2,183,333 15,967,841
MND Australia P/L ATF the MND Australia Trust 250,000 2,189,607
Peter John Pratten & Maureen Alana Pratten 290,000 2,120,920
Pierre Bayssari 300,000 2,194,055
Prattenville Pastoral Co Pty Ltd 2,750,000 20,112,169
Ramandex Pty Ltd ATF R&K Wilson Super Fund 360,000 2,632,866
Raymond Raad ATF the R&M Family Trust 1,800,000 13,164,329
Sam Fayad 300,000 2,194,055
Scan Japan Lines 2,056,592 15,000,000
Secu Pty Ltd ATF Secu Super Fund 2,750,000 20,112,169
Sonlen Pty Ltd ATF Sonlen Super Fund 2,750,000 20,112,169
Western Resources & Exploration P/L 375,000 2,742,569
 
Broad Investments advised that the Pangaea Metals acquisition has been completed following the issue of the Acquisition Securities on 15 September, 2007 in accordance with the Acquisition Agreements and the Prospectus dated 6 September 2007 and lodged with ASIC on the same day. The prospectus is now closed and applications for all of the securities under the disclosure document have been received and the securities issued. With regards to Pangaea drilling programme, Pangaea Metals has recently carried out an 18-hole drilling programe on its Goodia Prospect. The results of the drilling programme are expected within 3-4 weeks.

Is anyone familiar with other companies mining or exploring in the Goodia Prospect and surrounding areas ??

Details -

Project Name Goodia Gold/Nickel Prospect
Location Norseman, 20km SSW of
Western Australia
Australia

Project Type Undefined
Project Status Grass Roots
Commodities gold , nickel
 
If you have a look at bros maps and murchison metals proposed rail link maps bros minawarra meeberrie quondong sites look very closely aligned..
(I havnt worked out how to post pictures but you can view them on each companies websites)..
 
Marcus Halberstam said:
If you have a look at bros maps and murchison metals proposed rail link maps bros minawarra meeberrie quondong sites look very closely aligned..
(I havnt worked out how to post pictures but you can view them on each companies websites)..
Click to expand...

I dont really understand the point you are making here? They would have easy access to rail if they actually dig anything up?
 
I heard today that Broad is hoping to release a new software of PDA or phone or something similar which is huge overseas and they are securing the rights for selling in Australia..

Does anyone know anything about this ?
 
The Board of BRO is pleased to release the 2007 September Quarter Cash Flow Statement (Appendix 4C) which shows a substantial improvement in the First Quarter 2008 Operating Cash Flow relative to the previous quarter ending 30 June 2007 and its comparative period in the First Quarter of 2007.
As summarised in the table below, Receipts & Other Income and Net Operating Cash Flow for the last quarter show a significant increase.


Cash at end of Quarter 3,210** 3,926 473
**Cash at end of September 2007 Quarter does not include $944,000 in liquid
investments in ASX listed companies. Had these investments not been made, cash at end of the quarter would have been $4.154 Million.
Also of significance is the Trading Result for the First Quarter of 2008 was a modest profit of $11,367 (unaudited). This is believed to be the first quarterly profit ever achieved by the Company since its float in November 1999. The Directors are currently embarking on corporate activities which they envisage will assist the Company to
achieve a profit in the year ended 30 June 2008.
For any queries in respect to the above please contact Mr. Vaz Hovanessian at the
Company’s office on 02 9425 0000.
By Order of the Board
Broad Investments Limited
Rule 4.7B
 
All said & done, looks like things are getting better on the BRO front. We have some kind of positive announcements coming from the company on a regular basis.
1. Taxi booking deal
2. Drilling completed & drilling results expected any day now.
3. First positive cash flow quarter in it history (not a big amount, but hey, it is a start in the right direction, eh? Any thing is better than cash negative)
4. Investment in a broking firm (that can mean some focus by atleast this broker now - that is sure a positive)

Guys, the sp is around 0.8 - 0.9c at the moment with more than 100 million in the queue at 0.7c.
 
New announcement today as below - floating Pangaea metals


(i) Float of Pangaea Metals Limited
The Board of Broad Investments Limited is pleased to advise that it intends to list its controlled subsidiary Pangaea Metals Limited (“Pangaea”) on the ASX as soon as practicable and believes that the float will allow the substantial value of Pangaea’s exploration assets to be recognised and their full potential be independently realised. The Board is of the opinion that the full value of Pangaea is not reflected in the BRO share price and the separate listing is more likely to maximise value for shareholders. Furthermore, as detailed below, the separation of Pangaea from BRO will give a shareholding in both entities to BRO shareholders and if the Board’s expectations are
correct then the combined values could exceed the current value of BRO shares. (ii) Free distribution in-specie of Pangaea to BRO Shareholders
As part of the Pangaea float, Broad Investments intends to distribute, free of cost, most of its shareholding in Pangaea to its shareholders on the Record Date, which is yet to be determined but expected to be in early December 2007 and subject to any regulatory approvals. BRO shareholders will also be given preferential participation rights in any fundraising via a Pangaea prospectus prior to the float. The Pangaea float is expected to increase interest in BRO securities and this could have a positive impact for all BRO shareholders. Many shareholders may be encouraged to continue to hold their BRO shares and others may acquire BRO shares before the Record
Date in order to qualify for the free distribution.
Broad Investments will continue to hold approximately 20% of the Pangaea shares after listing on the ASX.
(iii) Resignation of Director in order to focus on Pangaea float
At the time of the acquisition of Pangaea the Board advised the market that George Lee, who was a Director of Pangaea, had joined the BRO Board to assist in the acquisition and transition of Pangaea into BRO and to provide the technical and mining exploration expertise to the Board of BRO. With the acquisition completed and the float of Pangaea
 
Excellent announcement IMO....the market was waiting on this news for some time now....lets see how this moves now that the news is out....

the other important piece of news in the announcement is the focus the management now has on turning the company around & declaring an annual profit...IMO this is a very interesting & encouraging part....

can anyone please shed more light on the short-term / mid-term & long-term sp of BRO?
 
I dont know how this will play out but it seems rather strategic that they firstly take a big position in a stock broking company, then decide to float their mining company seperately, I wonder who will be handling the float.. I wonder who will be really pushing the shares for the new miner...
 
BRO has released an exploration update .. I would love if someone who understands metals better than me can advise there feelings on this update and if they have anything worthwhile. I understand that they will float the metal company seperately and BRO shareholders will get shares i dont know at what ratio.. Has this exploration got merit or is it a dodgy phone company ??



BROAD INVESTMENTS LIMITED
ACN 087 813 090
15 Whiting Street, Artarmon, NSW 2064
Postal: PO Box 162 Artarmon NSW 1570
Ph: 02 9425 0000 Fax: 02 9425 0099
To: Australian Stock Exchange Limited
From: Broad Investments Limited (ASX:BRO)
Date: 14 November 2007
Subject: (i) EXPLORATION UPDATE FOR GOODIA GOLD–NICKEL PROJECT
(ii) Nickel & Iron Ore Prospects
________________________________________________________________________
The Board of BRO is pleased to announce details of exploration results by Pangaea
Metals Limited (“Pangaea”), a wholly owned subsidiary of BRO.
GOODIA GOLD-NICKEL PROJECT – RC DRILL RESULTS
Results have been received for sixteen of the eighteen reverse circulation holes drilled at
the Bentley Prospect within Pangaea’s Goodia gold-nickel project. The holes, most of
which were drilled to inclined depths of around 125m at 40m spacings on 200 metrespaced
lines, tested a coherent gold-in-soil anomaly that contains values in excess of
20ppb Au over a length of 1.5km and a width of up to 200m (Figure 1). The anomaly
was delineated in an earlier surface-drilling program of 1156 one-metre holes.
The holes intersected a modest gold bearing zone in silicified metasediments. The zone
dips at a moderate angle to the southwest, away from the western margin of the granitic
Goodia Dome that is about 350m to the northeast. The best result, from three-metre
composite samples, was 3m @ 1.9g/t Au – in fresh rock. Significant intersections are
listed in Table 1. The projection of the mineralised zone to the surface is shown on
Figure 1 along with the drill-hole traces.
Pangaea is encouraged by these results and intends to follow-up other gold-in-soil
anomalies located by this program.
Table 1 Bentley Prospect – Significant RC intersections
Hole From
(m)
Length
(m)
Grade
(g/t Au)
07GC01 12 3 0.13
07GC02 45 3 1.9
07GC04 22 3 0.43
07GC05 47 3 0.23
07GC06 86 3 0.31
07GC08 26 6 0.20
07GC13 30 3 0.36
GOODIA GOLD-NICKEL PROJECT – EXPLORATION PROGRAM
The detailed aeromagnetic survey over the Goodia project area has been completed and
the data is currently with the company’s consultant geophysicist for interpretation. The
project area is almost completely soil covered and the interpretation is expected to
provide valuable information on the distribution of the various rock units, in particular
the location of ultramafic rocks that, in the region, are prospective for nickel sulphide
BROAD INVESTMENTS LIMITED
ACN 087 813 090
15 Whiting Street, Artarmon, NSW 2064
Postal: PO Box 162 Artarmon NSW 1570
Ph: 02 9425 0000 Fax: 02 9425 0099
mineralisation. An accompanying structural interpretation can be expected to indicate
favourable locations for gold mineralisation.
The exploration of the project is at an early stage and Pangaea intends to continue
systematic exploration over its full area.
PROSPECTIVE IRON ORE & NICKEL TENEMENTS
The Board is also pleased to advise that it is currently considering prospective Nickel and
Iron Ore tenements in Western Australia and when negotiations are successfully
completed or further material information is available it shall be released to the market.
For any further enquiries please contact Mr. Vaz Hovanessian on 02 9425 0000
By Order of the Board
Broad Investments Limited
The geological information in this report that relates to Exploration Results, Mineral Resources
and Ore Reserves is based on information compiled by J.J.G. Doepel, who is a Member of the
Australasian Institute of Mining and Metallurgy, with more than five years experience in the
fields of activity being reported on.
Mr Doepel, Pangaea’s consultant geologist, has sufficient experience that is relevant to the style
of mineralisation and types of deposits and to the exploration activities being reported on to
qualify as a competent Person as defined in the 2004 edition of the “Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Doepel consents to
the inclusion in the report of the matters based on his information in the form and context in
which they appear.”
BROAD INVESTMENTS LIMITED
ACN 087 813 090
15 Whiting Street, Artarmon, NSW 2064
Postal: PO Box 162 Artarmon NSW 1570
Ph: 02 9425 0000 Fax: 02 9425 0099
Figure 1 Bentley Prospect – RC Drilling
 
nice move.. director increases his share holding by 10,000,000 shares yesterday and then goes into trading halt today with forth coming announcements..
 
As best I am aware BRO has a very sus. past. Be careful, one suspects the mofifs of the mamgement. There has been a strange move between sectors which raises questions.
 
BRO is now in suspension….any ideas why it would go into suspension from a Trading Halt? I read on HC that they had put in a notice /announcement at 9.12 am with ASX which was rejected….not sure of its authenticity…I searched on the ASX website…couldn’t find the 9.12 am incident….
 
they are seperating the mining company they just bought and floating it as a seperat company.. I think it will have to do with this..
 
What do you guys think of the 1 for 100 shares in Panagea for every BRO shares?

I think the ratio is a bit low but the enthusiasm in the 2nd last paragraph of the announcement (regarding the Ni tenaments) got me a bit excited and I got some more of BRO tonight....Lets see how this pans out in the near future...
 
I have sold out but just watch from the sidelines.. I think there is money to be made but soley because I think the directors will pump the company as hard as possible..
 
does anyone know any more info or the web address-

sorry to bring this back from the dead but getting info is a hard on this one

Thanks

Nick--
 
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