Adam S, the problem with your logic, and I can sympathsise with the emotions, is that there is an opportunity cost. I will illustrate by example. Before Easter AGO was around 1.17 BRM about 1.20 (approx). Today AGO closed around 1.36 whereas BRM closed at 1.13 (approx figures). So whilst you were holding on the BRM with forlorne hope, I exchanged 100k BRM for 100k in AGO a few days ago and profited from the AGO. Its gets even better, I exchanged BRM for MQG at $15 and MQG is now $30 (approx figures).
The point is one can continue to hold BRM in the pious hope that someday it will go up or one can profit from shares that are allready going up. Obviously its a difficult decision to bite the bullet and take a huge percentage loss, but other companies have fallen too and some represent better value than BRM.
Anyway, these are just some thoughts. At the end of the day its a personal decision. I bought BRM to make money, it failed to do so, so I moved half my shares laterally.
Frankly I don't think much of BRM management. I think they are arogant. I think they treat the shareholders with disdain, and I don't think they can easily deliver on transport or low beneficiation cost. But I still retain 100k shares in BRM in case they do.
None is investment advice.
BRM Price at posting:
$1.13 Sentiment: None Disclosure: Held
