Good one CY7, my thought as well.-- Watched the BRW presentation...

Good one CY7, my thought as well.


-- Watched the BRW presentation @ Resource Rising Stars Forum at the Gold Coast last week.
Peter Buck (Managing Director) was very impressive – from my point of view at least.
He said BRW was virtually a new company after the acquisition of Nickel Exploration assets of LionOre -- LionOre management in control.

Please don’t take my word for it – I have bought a few – if that royalty flow can continue for abit they are ridiculously cheap.


169,079,988 shares @ 39c = MC $66 million

Cash: $25 million as @ 300606

Royalties: Year ending June 2006 received $14.15 million from Eloise Mine (for 3 quarters)
The current mine plan has an expected life of two years. As the deposit remains open at depth and Management seem confident of extending mine life – In 2004 expected mine life was 2.5 years.
Possible Royalty flow of $20 mil/year

Major Shareholders:
LIM: Lion Ore Mining: 33.3 mil shares (19.8%)
Barminco Pty Ltd: 18.5 million shares (10.9%)

Projects:
1. Eloise Base Metals Project QLD. (Cu- Au- Pb- Zn)
2. Eastern Goldfields WA – 7 Major Projects. (Ni)
3. Nickel: East Kimberly WA (Ni-Cu potential)