Hi guys,It's been a very long time since I've read or posted in...

Hi guys,

It's been a very long time since I've read or posted in here.
I must say that I'm a bit taken back by some of the posts, especially the ones by optimistic1.

Mate, if you honestly think that this company has no future and you don't believe in the management (as you constantly bag them) then why not sell and move on to greener pastures. Even if you sell at a loss I'm sure you can re-coup your losses by investing in another company.

Let me make a suggestion optimistic1.
If you have so many concerns about this company and you are very trigger happy to post them in here only to create instability, why don't you grow some kohunas and call Mike and direct your concerns to him.
I've met Mike a number of times at EGM's, AGM's and Co presentations and I can tell you that he is a very nice and approachable guy and I'm sure he will be more than happy to talk to you and answer all your questions. This might put you a bit more at eaze so you stop crapping in your own nest.

In the previous posts someone brought up the issue of the size of our resource.
Yes, there is an estimate of 100-150Mt but that's not as relevant as 50Mt "mineable" which means 25 years mine life at 2 Mtpa.

At yesterday's conference Mike said that this mine will make $75/t margin which means $150M EBITDA from just $150M CAPEX. That equates to a huge NPV.

For example, PDZ will make about $30/t margin so even if they do hit 6Mtpa they will still only make $180M EBITDA and their CAPEX is around $800M.
Do the maths!

Yes PDZ has a higher MC than BMB but they've owned their project for 2 or 2.5 years.

We still have to drill out to JORC 50Mt "mineable" (by the end of 2014) and prove the above numbers via FS but at this stage we've ONLY owned NR for 8 mths.
I think the management has done an excellent job in such short time.
Let's see where we are in another 1yr - 1.5 years.
I bet our MC will be a lot higher than that of PDZ.