Trades for today: [ATTACH] Hey Big Spender …. ? What a brave...

Trades for today:






Hey Big Spender …. ?

What  a brave response  to today’s annual results!!
And those 3 shares at 026c each!  (a clever {under one cent!} bargain basement buy for some lucky punter?)


Yet , apart from that facetious trading, I thought there was some genuine good news in there (despite that the report was clearly angled at the small  ~90% ownership gang.)
Like;

.. “On 22 April 2021, Brockman Iron Pty Ltd (a wholly-owned subsidiary of the Company) (“Brockman Iron” ) and Polaris Metals Pty Ltd (“Polaris” ) established the Joint Operation. ​

Following the establishment of the Joint Operation, Polaris (or its related party) agreed to provide the Joint Operation with funding by way of a project loan sufficient to allow the Joint Operation to fund the initial development costs and the forecast capital costs for development. ​

The Joint Operators have agreed to initial development works that will be funded by Polaris with the cost estimated to be circa A$36,000,000 (HK$189,192,000). ​

The project loan agreement is expected to be executed by the first half of FY24.”​

— There is just over three months now in which  that $36m is expected to be put to bed?
…..BCK market cap today - converted from HK$1.44b - is about AUS $285m so that’s around 12% of the value of the company ….  I think (?)
Bring it on?

And what about this underlined section ?

.. “The final hurdle before achieving iron ore production at Marillana is to obtain the consent of the other landholders and native title owners in the infrastructure corridor.”​

That’s interesting - I had not realised there as an (over-the-barrel?)  bottleneck issue with that infrastructure corridor.
If I owned land in that clearly valuable location, I would be putting on my bushranger hat for sure, and sitting on my barrel, and holding out for as much as that $36m as possible.
And I would put a tax on every tonne shipped through, as per the Hanwright example:

“..In 1962, the Hamersley Iron Ore royalty agreement was signed between Rio Tinto and Hanwright (Hanwright was owned by Lang Hancock and Peter Wright). It guaranteed Hancock and Wright 2.5% of royalty on every tonne of iron ore exported from the Hamersley Ranges. Rio Tinto would build the mines and railway from Mount Price to Dampier, a distance of over 330km. Hanwright would remain as an administration company. These deals fuelled the Hancock legacy and were the financial “backbone” that ensured HPPL's success after Lang passed away...” https://rainforestactiongroup.org/wp-content/uploads/2020/01/HancockProspecting2.pdf​

Only fair?

Cheers and I hope the price here stops being so boring soon!
- in a positive way!