BRM brockman resources limited

announcement today, page-22

  1. 9,439 Posts.
    Yes he did put up his CV .. albeit briefly.. and silence descended across the room. :)..

    He is a superb presenter, and so he should be, I think he said he has done 77 presentations to investor groups now!

    Abu.. no HC names were mentioned specifically, although I met a few other BRM hotcopperites there. Did ask WR whether he reads the forums with the same vigour as the other BRM guys, but he said he gets too upset, and tries to ignore them, although gets to them every now and then :) He's too busy making it happen :)

    Some other interesting bits

    Mining the edge of the BHP side is not a problem. Discussions have already begun and BRM is allowed to cut back under existing legislation. Not seen as an issue

    BHP rail is still the preferred option, although in the grand scheme not critical as the NPV values on a spur to FMG are still outstanding

    Mine gate sales to BHP are a possibility, hence why I wouldn't expect and off-take until this option has been fully explored

    6 Confidentialty agreements signed, and not all Chinese interestingly :) WR visited 13 steel mills in China

    Port should be fine up to 10MTPA. Further port expansion should facilitate 25MTPA by 2013

    Processing costs are not expected to vary from those currently incurred at Area C (BHP)

    Whilst BRM has higher alumina levels than BHP's neighbouring assays, the phosphorous levels were lower, indicating that in terms of price, one offsets the other

    Reiterated that the Detritals will get more than DSO/t

    Head grade LOI rates will deliver a 60%+ product on the CIS DSO as well. (62.6% after blast furnacing)

    Low stripping ratio will significantly reduce anticipated operating costs. market seemed to have missed this. Going from 4:1 to 1.5:1

    Reiterrated that it is all free dig, unlike BHP next door which will require blasting.

    Minimum 25 year mine life

    BRM likely to have 20 staff by the end of the year.

    Mt Florence is right next to Rio's line (market seemed to have missed this)

    Duck Creek and neighbouring BRM tenements are also well situated for FMG's proposed Solomon rail line

    There are two active Native title claims over the tenement. The claim to the north is being worked on immediately as it is the area likely to be mined first. Was not seen as an issue, more a case of standard process to mining.

    Guys that were there.. was there anything else that I missed?

    On the whole.. you got the impression of an outstanding board, led by a highly competent Chairman and management team, who by all accounts know their stuff.
 
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