any thing we dont know yet, page-5

BRM is now a cash box with a billion tonnes of free iron ore. Even if you think the next boom is 10 years away it is the screaming bargain of the century.

Here are some facts.

When BRM hit its peak back on 5th March after the first resource upgrade its Enterprise Value hit $280M ($3.20/share less cash)or about $0.43c/t DSO equivalent.

Since then we have had a 40% increase in resource, 25% increase in recovery (ie reduced costs) guaranteed port berth, open rail access recommendation and a further 30-50MT identified at Duck Creek -- hardly a story of shame and disappointment.

Today BRM has an enterprise value of less than $28M .. ie one tenth of what it was back in March when it had less ore, no berth and no further upgrades. That is a fall of 90% .. yes 90%! If this stock isn't high on the predator list I can't imagine what more it could take.