what,s going on, page-5

Hi Phil,

Spur of the moment thing. The price kept getting pushed down from $2.80 and buyers were dropping to $2.60 range, which to me indicates there's a heap of sell pressure to come. There were enough buyers at $2.50 to take the volume I wanted to sell, so now I'm well and truly free carried plus paying off most of personal loans. Tax bill will be killer, but such is life.

I'm now hunting around for another good speccy that has a greater probability of quadrupling in value than what BRM does.

I still have some faith in BRM getting into production, but not enough to have all of my holdings in this one stock. BRM was the only stock I held onto during and after the GFC because I thought it had potential.

I believe BRM management have struggled to attract quality onto the register, and I can only put it down to their lack of business nous or selling ability. They might know how to commission a mine but they've shown precious little ability to negotiate deals. The fact that WR sold to WNI - a limousine service at that time- and who now have nothing to offer leads me to wonder why he actively courted them. We've never found out why.

FRS at the moment have half the market cap of BRM and a similar amount of ore. They would represent better value at the moment, although the deal with AGO may not make them so attractive. However, they're more likely to get their ore to port than BRM. I think FRS have also shown to be a lot more alert when it comes to business dealings, particularly negotiating with the Chinese.