A big month ahead of us as indicated in the recent quarterly announcement! The upgrade of resource will be huge (Abalone resource as stated effectively doubled) but this in itself has little to no relevance as of now. Its all about Rail,Port and off-takes. Obviously continued improvements (if possible) with beneficiation techniques improve the long term prospects of this project as well.
Here are just some of the events unfolding this month. Its still full steam ahead! The biggest news will come late October or early November regarding Wayne Swans decision on third party rail access but plenty happening before then
-Stage 1 Brockman intends to appoint a Project Manager within the next few weeks to lead both the DFS and construction activities.
-The award of the Stage 2 Feasibility Study contract is scheduled for August 2008.
-NCCs final recommendation about rail line access for third parties will be forwarded to the Federal Treasurer in late August 2008. (decision then made within 60 days)
-Calweld drilling is also scheduled to commence in early August folowing delays in securing a drill rig.
-A revised Mineral Resource estimate for the Abalone area, based on results from the initial 800m by 200m step-out drilling is currently being determined by Snowden Mining Industry Consultants and is expected to become available in August. This estimate will cover an additional 3km of strike length of mineralisation, effectively doubling the strike length of the Abalone resource area.
-A programme of helicopter supported surface sampling was completed over outcropping CID mineralisation at Duck Creek in June. A total of 286 samples were collected over 4 target areas. Results are not expected until late August.
BRM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
