I've got plenty at the moment, so don't need any more. I wouldn't be buying until the buy and sell side even up - and I think it won't even up until well below $1.70 (this is pure guess because I have no idea). I'm not quite sure why the SP is dropping so much - hope it's not due to rumours suggesting that the next resource upgrade won't be so good.
I've held BRM/YML since late 2006 at a time when it was a pure spec at a reasonable price. I'm actually feeling a little more uncertain about BRM now than I was back then- which is hard to believe. But there is too much repetitive information about the rail/port access, without any indication about how close the parties are to reaching agreement or if in fact they're getting closer. Updates just saying 'discussions are continuing' just doesn't rate with me.
Same goes with negotiations with steel mills. We have no idea what is being sought, offered or if in fact the parties are getting closer to some agreement.
We're assured that obtaining maximum shareholder value is paramount in management's decisions - but seeing the SP drop so much indicates to me that the market doesn't rate BRM's abilities or prospects very highly. Pretty poor given we supposedly have 680MT of highly sought after Fe and $110million in the bank for mine start up. Maybe sentiment will turn around, but I figure it will need something significant - not just repitition of the previous 3 quarters news.
BRM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
