Thought people may be interested to read this. BRM were the...

Thought people may be interested to read this. BRM were the cover story on the 12th May. All recycled info but as BRM holders we are used to that!

As with some others here Im another discontented long term holder of BRM. I sill plan to hold until the PFS results are released. The silence from management is a big concern to me. The only glimmer of hope seems to be the decision to continue employing experienced personnel. If the board believed marillanas product was simply soil surely they wouldnt keep growing their development team?
In saying that though, the only thing Wayne has signed off in 18 months is his new boat and free share options!


Brockman Resources (ASX Code: BRM) Increases Marillana Resource by 74%, Highlighting the Strategic Value of the Project in Providing a Strong Position from Which to Leverage Future Rewards
Australian iron ore company, Brockman Resources Limited is strategically positioned in the Australian junior iron ore sector with a world class JORC compliant resource of 1.4 Billion tonnes, highlighting the potential value for strong returns for the company and investors in the future.
Since its successful listing in August 2004, Brockman has transitioned from a copper-gold, nickel exploration company to a potential iron ore producer. Illustrating Brockman’s strategic focus on advancing the Marillana iron ore project , the company has recorded a substantial upgrade in the Indicated Mineral Resources for the project, which now stands at 605 million tonnes. The resource is comprised of 551 million tonnes of beneficiation hematite detrital mineralisation (59-60% Fe grade after beneficiation) and 54.2 million tonnes of direct shipping ore quality channel iron deposit mineralisation (57.4% Fe grade). Mr. Wayne Richards, Managing Director of Brockman Resources stated, “The resource upgrade demonstrates continuity of mineralisation at Marillana, in addition to highlighting spatial and grade integrity across the entire 15 kilometre strike length.” To date more than 40 per cent of the total resource base is classified as Indicated, in accordance with the JORC 2004 Code. “This is a significant result for Brockman and underpins our future Business confidence associated with the development of the Marillana Project. This resource information will be effectively utilised to develop mine plans to support a 15-25 Mtpa Iron Ore Business,” Mr. Richards commented. The total mineral resource of 605 million tonnes represents a 74 per cent increase on the previously announced Indicated resources of 347 million tonnes as reported to the market on August 21, 2008. Since the previous update the company has executed significant reverse circulation, sonic and calweld drilling programs in the so-named Rockhole Bore, Abalone and Abalone East areas at Marillana. The upgrade comes on the incorporation of 2008 in-fill drilling results at 100 metres by 100 metres spacing in the Rockhole Bore and Abalone areas as completed by Coffey Mining Pty Ltd. The prior Indicated Resource contained only tonnage from within the North-West Sector.
According to Mr. Richards the improved confidence levels of the resource provides a firm basis of process design for the Marillana Pre-Feasibility Study (PFS). “The Pre-Feasibility Study is scheduled to be completed in July this year. We are in the final stages of designing the optimal site layout and process flow diagrams. These include layouts of the mine, processing plant, associated infrastructure, village and rail loading facility. Following the successful conclusion of the PFS, Brockman will then move to undertake a Definitive Feasibility Study (DFS) in August 2009. The DFS is expected to run through to the beginning of the second quarter 2010,” Mr. Richards explained. “Once the results from the DFS confirm Project viability, Brockman will undertake a Bankable Feasibility Study (BFS) to support the final funding requirements of the Project. This is scheduled to occur in the second half of calendar year 2010.” Mr, Richards highlighted a number of the key strengths of Brockman which are expected to drive growth and value in the near and long term. “Firstly we have a very professional, technical team and competent Board of Directors. In addition to this we are supported by having the largest hematite resource of any iron ore junior within Australia. Further, the strategic location of the Marillana Project, within the Pilbara Iron Ore Province of Western Australia, surrounded by existing iron ore producers and mines presents Brockman with significant competitive advantages over its peers.” “The tenements reference to roads, rail, port and associated infrastructure ie: air strips, is of high value to Brockman. Finally the company is in a strong financial position with $102 million of un-committed cash in the bank,” Mr. Richards stated. In early March the company further cemented a key infrastructure requirement for the Marillana project following the completion of a Scoping Study which looked into the development of two multi-user berths and associated materials handling infrastructure at Port Hedland. This is a key milestone for the commencement of iron ore exports from the project in 2012/13 and subsequently expanding up to 25 Mtpa in 2015. Mr. Richards highlighted Brockman’s prospects for strong growth in the near term through a series of recent appointments to their management team including Mr. Jason Greive as General Manager – Operations, and Mr. David Nixon as Non-Executive Director. These come as the company continues to build and strengthen its senior management team to drive the development of its Marillana project. He concluded, “The future outlook for Brockman is very positive. We are proceeding at maximum development pace to move into production. We are not hindered by current macro economic issues within the market as we are fully funded to execute all aspects of the Project Studies and early procurement of long-lead items. We expect to continue growing the company to yield high rewards for Brockman shareholders.” May 2009 http://www.australianinvestor