-- Watched the BRW presentation @ Resource Rising Stars Forum at the Gold Coast last week. Peter Buck (Managing Director) was very impressive – from my point of view at least. He said BRW was virtually a new company after the acquisition of Nickel Exploration assets of LionOre -- LionOre management in control.
Please don’t take my word for it – I have bought a few – if that royalty flow can continue for abit they are ridiculously cheap.
169,079,988 shares @ 39c = MC $66 million
Cash: $25 million as @ 300606
Royalties: Year ending June 2006 received $14.15 million from Eloise Mine (for 3 quarters) The current mine plan has an expected life of two years. As the deposit remains open at depth and Management seem confident of extending mine life – In 2004 expected mine life was 2.5 years. Possible Royalty flow of $20 mil/year
Major Shareholders: LIM: Lion Ore Mining: 33.3 mil shares (19.8%) Barminco Pty Ltd: 18.5 million shares (10.9%)
Projects: 1. Eloise Base Metals Project QLD. (Cu- Au- Pb- Zn) 2. Eastern Goldfields WA – 7 Major Projects. (Ni) 3. Nickel: East Kimberly WA (Ni-Cu potential)
BRW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held