For the full report by RMR, go to...

For the full report by RMR, go to

http://www.burdekinpacific.com.au/images/pdf/150904-rm_capital_research_report.pdf

Note, that the valuation of 3.5 cents a share is based on Mt Kasi's resources of approx 300,000 ounces of gold. It appears that it does not take into account any potential increase to the resources from the current drilling programme that bks has been undertaking since Feb 2004.

And assumes a total of fully paid ordinary shares of 445.7 million (post capital raising)
Currently on issue approx 304 million (pre capital raising)

"RMR's Recommendation: SPECULATIVE BUY"

Current Share Price A$0.018 closed - Friday 17 September 2004

"RMR's Valuation A$0.035"

"Market Capitalisation A$7.6m" (445.7 million shares X A$0.017)

"RMR's - COMMENT
�� Look for further resources increases to drive the share price in 2H 2004.
The recent appointment of Bruce Tomich has added some additional technical expertise. Further board appointment’s are likely in the event that Mt Kasi progresses towards a feasibility study.

RMR maintain a speculative buy based on the current valuation of $0.035 per share.

MT KASI GOLD PROJECT (BKS 100%)
Since RMR’s last report (8th April 2004) exploration drilling at Mt Kasi has returned encouraging results at Paro and 6,000 North (figure 1) in particular.

The project will require an increase in reserves from 167,000 oz to around 250,000 oz of gold to justify a stand alone mining operation.
The current capital raising will be, inter alia, applied to completing a further 5,000m (of the planned 10,000m) of drilling at Mt Kasi. Subject to the results of this drill
program, a feasibility study is planned.


RMR's - CONCLUSION
Results from the 2004 drill program have demonstrated the exploration upside remaining at Mt Kasi.
While the discovery of further eluvial gold at the Mbete and Nakoi Prospects (see ASX announcement 16th & 27th August 04) will provide some easily accessible ounces, the success at Paro and 6,000 North has highlighted the near surface potential for high-grade gold mineralization.
At Paro the occurrence of higher grade mineralisation in fresh rock is particularly encouraging.

RMR still considers the tenement has potential for in excess of 1Million oz of gold.

The appointment of Bruce Tomich has added some additional technical and commercial expertise to the board.
Recent salary reductions by the directors have also been received well by the market while the announcement by BKS that 0.28% shareholder Bikini Atoll Pty Ltd intend to gather enough support to (see Prospectus, 9/9/04) convene a General Meeting to restructure the board are unlikely to have any short term impact on the company. A similar attempt was unsuccessful in May this year.
Look for further exploration success at Paro and 6,000 North to drive the share price in the near term. Again, RMR’s enthusiasm is tempered by balance sheet concerns, however, the current capital raising will place the company in a significantly stronger cash position."


Constructive comments & discussion please.
I hold bks
Always seek professional investment advice before investing & please read below.