I cant understand how you can think that Magnetite is better than low grade hematite, you claim magnetite up to 60%, never heard of such a thing with magnetite, almost all IO operations in OZ are hematite, Magnetite usually grades between 35% -40% FE, our low grade hematite is 40% -50% FE will a simple screaning process upgradeable to 59% or there about, i just dont think that your debate Magnetite even comes close to making sense.
WRs certainly has stuck his neck out on this upgrade of product, i have spoke to Wayne a couple of times and he seems to be as confident as a heart surgeon doing heart surgery, i get the feeling that the tonnage/saleable product is in the bag and that we just need rail access.
This debate about the upgradeable material to me seems absolutely mute, i dont have any doubt in my mind about the process, the only hurdle i see in front of BRM is raila nd port access which is ofcoarse a big one.
You could be correct as the market having some uncertainty about BRMs claims about benefication, when the markets accepts this as gospil, i think the SP will be alot higher.
So it does come down to the risk/reward senario, hop in now with more risk and receive more reward, hope in later with less risk and receive much less reward.
It really comes down to a companys market cap, lets compare FDL and BRM, BRM has a $2 SP and FDL 10c, FDL hasnt drilled a hole and is in value not that far behind BRM in its MC, go figure and then compare apples to oranges.
Take the benefication material out of the eqaution and BRM still have just under 60 million Tonnes JORC of DSO, no other junior has that in the Pilbara.
Its good to ask questions and weigh up risk/reward, but just compare other junior Market caps and stand BRM beside wny single one of them and BRM is way ahead of the game in every aspect by a long shot and not really costing much more at all, SP yes market cap no, thats the problem with most people that buy shares, they wouldnt know what a market cap was, just stand all of BRMs peers beside BRM and let me know what you think in terms of value, risk/reward
Cheers
BRM Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
