MB, for many months now people have mentioned BRMs sp to that of other io juniors.
The simple answer is that the market is only placing value on the indicated 47mt DSO in the NW sector and 9mt inferred DSO at Rockhole Bore. With a market cap of $239m at the close of trade fri BRMs 56mt DSO is still underpriced at io market averages. With no value being given to the upgradeable beneficiated material or nickel assets BRM imo is a no brainer.
Many long term posters here on HC could appear to be ramping this stock. To me that couldnt be further from the truth. I believe we just call a spade a spade. Even if at worst the 56mt (and nothing more) was delivered by truck to FMG or port the sp would rise from current levels.
As mentioned before though we then have 500+mt DSO of beneficiated material and indicated nickel deposits!!! This is an exciting time for holders.
The last Qrtly report makes we wonder why the hell anyone would sell at the moment. - We await the results of 31 RCD holes for Abalone (prob June but maybe sooner) - International roadshow presentation - Sonic drilling rig to gather material to be used to IMPROVE on the beneficiation process not prove it (have not checked with comp but rig was due to arrive on the 7th May) - A detailed airomagnetic survey over all of Brockman’s granted iron ore tenements in the Pilbara is scheduled to commence in early May. - Initial sampling programmes over the Duck Creek and Lalla Rookh prospect area are scheduled to commence in May this year.
WR should be on all our Christmas Card lists and I sense I will want to give him far more than that come December. The appointment of PB as gen. manager of project development was also a terrific injection of talent. The appointment of a marketing manager will also be a significant step in the right direction for the company.
Lets hope Abalone can deliver the company some DSO to help reach the 100mt target. Using fridays closing price each tonne of DSO is valued at approx $4.27. Any success at Abalone would have significant positive affect on the sp. With the current $4.27 value of DSO (under market average) each further 1 mt of DSO would add approx 5c to BRMs current sp. And thats just in the very immediate short term! The future looks very good at present,
ant
BRM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
