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You guys are correct and I made a mistake....I went through the announcements from December 2007 and the spin-off date went into a bit of a limbo with the ASX. So the current BRO sp does include the 1 in 100 Pangaea shares as advertised earlier.

Also, the announcement of 18th MArch 2008 states in the last paragraph that "The Boards of Pangaea and Broad are extremely pleased with the above acquisition
ahead of Pangaea’s imminent spin-off." in relation to their new acquisition bearing nickel ore next to Consolidated Minerals tenemnets...

This makes things a bit interesting...

If you get 1 share of Pangaea for every BRO shares after the spin-off, and the Pangaea shares list @ say face value i.e. @ 20c on the day of listing, that makes your BRO shares worth 0.2c just on the component of what PAngaea is worth. This is the sp of BRO at the moment. Hence, the parent company is worth absolutely zero at the moment. The icing on the cake could be just one good announcement from the new nickel tenements mentioned above....that can make the sp run to a couple of cents from these lows...BRO has a huge number of shares on offer and hence the day traders would have a field day if this happens...but the company needs to strike some good value dirt first...