FFR - Firefly Resources

[MACH]

Re: BMY - Brumby Resources

Man, BMY is on Fire.
I think drilling starts tomorrow or very soon on a few iron ore projects, and manganese projects start soon too.
Drilling from 1st July 2008, to 15th Dec 2008.
This could be the next BIG steel producer, with VERY large iron ore and manganese targets, if drilling proves succesful.

 

[andy87]

Re: BMY - Brumby Resources

i want in on this mob but cant cause the lack of $$$ Get a nice fat pay check mid july so hopefully they havent rocketed by then

 

[big sal]

Re: BMY - Brumby Resources

got in on BMY last week after reading what i could find (thanks also to those who post here) and seeing its proximity to the likes of BHP and AGO. i am fairly new to this game, but given its present speculative nature v potential, is a holding of 100,000 shares (bought at under .30c) a good balance to hold or would the more experienced punter out there try and increase the holding? given BMY's hit .33c today its looking ok! if 100k is enough then let the Giant Start Stomping!!

 

[tnargak]

Re: BMY - Brumby Resources

got in on the 17th, so making some good profits so far.

New to trading and have heard that some people sell small portions to ensure profit taking rather than adding stops/trailing stops?

What are your opinions?

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

To be honest I was completely caught off guard by BMY's run

While I bought the stock and got amongst the SPP at 14c a few weeks back, I never expected it to go bezerk like this so soon

I knew it was a sleeper Fe play but at the time the mkts were shaky and the fundies of this couldn't justify a valuation, however now I'm regreting somewhat not giving everyone the heads up

I am sure that something is up which is causing this run and after looking through the anns I reckon its probably that the company has either completed further interpretive work at Pardoo thus actually having Iron ore targets in mind rather than just giving a large surface area, or that such gravity interpretations have been completed at Telyagel and likewise target sizes for potential deposits have been reached, eithe rway we will soon know

 

[rob]

Re: BMY - Brumby Resources

up 12% at one stage today,cant wait for the results of the drilling should'nt be to long away i hope. ho ho ho.

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

Funny mkts,

BMY continues to go from strength to strength

Rob I don't think they've even started drilling

Whats far more likely is that Brumby have either completed further interpretive work at Pardoo thus actually having Iron ore targets in mind rather than just giving a large surface area, or that such gravity interpretations have been completed at Telyagel and likewise target sizes for potential deposits have been reached, either way we will soon know

 

[andy87]

Re: BMY - Brumby Resources

yeh part of the reason why im not getting into it atm (besides lack of funds) is because its just drilling. They could very well have tiny desposits, althought unlikely, still possible. Furthermore there is an insane amount of speculation around them and that's all that seems to be driving it hence ASIC making an equiry. Brokers ive talked say its a no go, but they are only adisors so obviously a lot of others are making their own calulated risks. just my

 

[kervz]

Re: BMY - Brumby Resources

With a market cap of only 17 million, In the Pilbara next to AGO surely there is plenty of upside left in this one? I would have thought it was still undervalued given its location and the commodities its in?

 

[andy87]

Re: BMY - Brumby Resources

With a market cap of only 17 million, In the Pilbara next to AGO surely there is plenty of upside left in this one? I would have thought it was still undervalued given its location and the commodities its in?

yeh there would be but its still exploration. No doubt there going to have a lot of capex for a while, and we dont even know if they can produce anything at an economic rate. They also have to pay BHP and/or Rio to use their tracks in order for them to ship their iron off to China. I just dont think it will be very feasible so its a gamble

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

yeh there would be but its still exploration. No doubt there going to have a lot of capex for a while, and we dont even know if they can produce anything at an economic rate. They also have to pay BHP and/or Rio to use their tracks in order for them to ship their iron off to China. I just dont think it will be very feasible so its a gamble

Everyone is entitle to their opinions based on their own research, however I do remember similar arguments on YML at 16c-30c and well we saw how that turned out

Not saying BMY will do the same 100% but imo it has a damn good chance, its mkt cap isn't huge and it has alot of very prospective grounds which make it a good spec exposure, I suppose what I see time and time again is people looking at spec stocks expecting FMG fundamentals yet to only have $10m-$20m mkt caps, it jsut dosen't work that way

For me BMY was and is a good exposure to the red hot Iron ore sector more specifically Pilbara, whether I'm right or not, well only time will tell

Furthermore there is an insane amount of speculation around them and that's all that seems to be driving it hence ASIC making an equiry. Brokers ive talked say its a no go, but they are only adisors so obviously a lot of others are making their own calulated risks. just my

ASIC making enquiries? what the heck

Can you elaborate on this please

p.s. you'd be surprised how many brokers thought YML was a dog at 16c makes me laugh to this day, funnier still is now at $2.50 - $3 they love it

 

[andy87]

Re: BMY - Brumby Resources

Everyone is entitle to their opinions based on their own research, however I do remember similar arguments on YML at 16c-30c and well we saw how that turned out

Not saying BMY will do the same 100% but imo it has a damn good chance, its mkt cap isn't huge and it has alot of very prospective grounds which make it a good spec exposure, I suppose what I see time and time again is people looking at spec stocks expecting FMG fundamentals yet to only have $10m-$20m mkt caps, it jsut dosen't work that way

For me BMY was and is a good exposure to the red hot Iron ore sector more specifically Pilbara, whether I'm right or not, well only time will tell






ASIC making enquiries? what the heck

Can you elaborate on this please

p.s. you'd be surprised how many brokers thought YML was a dog at 16c makes me laugh to this day, funnier still is now at $2.50 - $3 they love it

yeh in saying that YML is YML and BMY isnt YML. I do agree the Pilbara region is a great region for ore, but its great for the bigger guys who already have their mines up and running and process plants at full steam ahead.

As far as the ASIC thing goes, i may have been confused with someone else. Sorry to scare you YT, my wires have been crossed. Long day at the office :

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

yeh in saying that YML is YML and BMY isnt YML. I do agree the Pilbara region is a great region for ore, but its great for the bigger guys who already have their mines up and running and process plants at full steam ahead.

Yeah I fully agree Andy, they are 2 seperate companies and obviously the big boys are the ones making the money atm but the big boys are exactly that, big ie their mkt caps are all $1B+

I personally go after the $10m - $20m mkt cap companies that have the potential to become the next $50m - $200m Iron ore company, it may retrace it may go forward, for me its a hold and wait and see

As far as the ASIC thing goes, i may have been confused with someone else. Sorry to scare you YT, my wires have been crossed. Long day at the office :

whew, yeah I was like ASIC? what have this old stallion done? lol

Out of curiousity what was this company being looked at by ASIC????

 

[adobee]

Re: BMY - Brumby Resources

well this stock is ideally what i am looking for.. great tennements in great locations next door to proven resources.. of course there is a big risk as with any spec stocks.. but i feel alot more comfortable with an explorer with land in this position than the same company in africa with land which isnt next door to ago fmg etc..

really i think this stock is for those wanting a risk with potential of big returns.. if you want established resources, growth, and infastructure then you may as well be buying bhp.. i am buying this cause i am after the potential of BIG RETURNS ... and take the potential of big risk with them..



re train lines.. i saw tigerboi's post around mentioning that they can possible do a pipe line or other methods of transportation as they are so close to the coast ??? does anyone have more information in this regard ??

 

[andy87]

Re: BMY - Brumby Resources

Yeah I fully agree Andy, they are 2 seperate companies and obviously the big boys are the ones making the money atm but the big boys are exactly that, big ie their mkt caps are all $1B+

I personally go after the $10m - $20m mkt cap companies that have the potential to become the next $50m - $200m Iron ore company, it may retrace it may go forward, for me its a hold and wait and see





whew, yeah I was like ASIC? what have this old stallion done? lol

Out of curiousity what was this company being looked at by ASIC????

The ASX enquired about CII, but whether or not ASIC got involved im not sure and im pretty sure they were involved with ANM's 700% rise for obvious reasons

 

[adobee]

Re: BMY - Brumby Resources

I am more worried when ASIC isnt interested in a company... !! which tends to be the ones which cause all the trouble ! they pick on petty items whilst the big fish get away ..

 

[Steve_QS]

Re: BMY - Brumby Resources

Weighing up the facts.. small market cap, prime position in the pilbara, infrastructure being laid in the area. All this makes me believe BMY is a little diamond which still has got some substantial movement ahead. The real telling factors of how far they are going to travel is going to come down to how much can they get out of the ground? what are they going to do it, sell it off to BHP/RIO ???? Let them ship it out etc? or just pay to use there lines etc.. but either way im sure soon enough it'll be a fairly strong run for it.

Soon as those lines are fully functional there will be a another bull rush for those companies in the pilbara region.

Just my thoughts

 

[YOUNG_TRADER]

Re: BMY - Brumby Resources

This is a non fundamental/purely observational comment

BMY is holding on to its gains really well in what is a very bearish market,

Am I the only one surprised by this? I thought surely some sort of retrace/consolidation, instead it pushed to new intra day highs

It really does seem like its being accumulated, but maybe I'm just looking at it too much, will be interesting to see what happens

 

[Steve_QS]

Re: BMY - Brumby Resources

This is a non fundamental/purely observational comment

BMY is holding on to its gains really well in what is a very bearish market,

Am I the only one surprised by this? I thought surely some sort of retrace/consolidation, instead it pushed to new intra day highs

It really does seem like its being accumulated, but maybe I'm just looking at it too much, will be interesting to see what happens

I'm not too suprised.. think possibly people are trying to secure in positions before the mad rush begins, and if that means having to get the amount you want for .385c then that's the price willing to be paid.
Consistent volumes also suggest that there is alot of interest it seems in this stock, bearing in mind it has a very small market cap.

looking brighter everyday..

 

[Caliente]

Re: BMY - Brumby Resources

It really does seem like its being accumulated, but maybe I'm just looking at it too much, will be interesting to see what happens

Nope I agree with you. Bearing in mind the miniscule amount of shares actually available for trading - every time the stock squeezes it shoots up. Similar to my holding in CI Resources (CII).

Great trading on a s*** day that has see me lose a lot of paper profit on CDS, but still holding strong.