resource upgrade, page-17

The resource upgrade looks good. Detritals will now last 60 years now instead of 30 .. but I'm not sure the market will care. I still think until BRM has

a.) a buyer
b.) transport

I suspect the market will ho-hum and remain flat to BRM. Based on EV/t and NPV values and broker reports it is clear that the market does not believe in any kind of detrital product .. in spite of it being "proven". Unlike the market I am actually backing WR and his technical team of experts supported by the CSIRO to pull this off. The day WR signs up a buyer for the detrital product will be even more historic than a transport deal. A transport deal reduces risk, but it doesn't prove the worth of the Detritals .. only a buyer can do that.

Think for a moment what a value of just $4/t insitu might mean for BRM .. if they prove up 1 billion tonnes of it, then we are sitting on a SP of $30 :)