BRM 0.00% $2.53 brockman resources limited

should brm use nearology to stimulate interest

  1. 1,051 Posts.
    lightbulb Created with Sketch. 2
    Just having a quick read on The Australian's website and noted the following article about a couple of iron ore stocks using the 'nearology' technique to stimulate interest. I wonder if WR will be inclined to follow suit or whether he'll adopt the more reputable 'guesstimate' technique from drilling done thus far. We know there's already 44MT in the bag but using the 'nearology' method, we could be looking at 400MT overall for Marillana. 'Guesstimate' will no doubt be something a little more conservative such as 180MT or thereabouts. Gotta say that the nearology method certainly draws attention, but usually from the early evacuators, those that leave at first sign of trouble in the stock market. I hope WR uses the guesstimate method to draw in the more considered investor. Anyway, the article follows:

    AS Flinders Diamonds showed last week, a bit of "nearology" does no harm. The company drew attention to the fact that its Hamersley project in the Pilbara was less than 10km from the 875 million tonne resource at Caliwingina North, owned by Rio Tinto.

    Day traders duly obliged and sent the stock up on large volumes.

    United Minerals Corp also was not hiding its Pilbara light under a bushel. It reported that visual inspection of a drill core near its Railway prospect indicated a 40m intersection of Marra Mamba iron ore, making the directors confident they could have 100 million tonnes on their hands. UMC went very dark on Pure Speculation when we suggested its announcements were getting a little ahead of themselves, so we'll refrain from any comments - for now.

    Turning to more advanced projects, we should note that Strike Resources says it has signed a preliminary agreement with Peru Rail to move 2million tonnes a year to Matarani, a port on that country's southern coast. Strike, while aiming to mine up to 40 million tonnes a year, is planning to get a smaller operation going at its Cuzco project so it gets cash flowing.

    Back home, Western Plains Resources has increased its resource estimate by 46 per cent at the Buzzard deposit near Coober Pedy. The company said it had 13.3 million tonnes of direct-ship iron ore at an average grade of 62 per cent.

    We're expecting within the next few weeks to see the first resource statement from BC Iron. There are hopes of something approaching 30 million tonnes at 55-58 per cent. The company has signed an agreement with Fortescue Metals Group. BC Iron plans to truck its ore to FMG's Cloud Break mine, then send it down the FMG rail line and on-board ship at FMG's wharf at Port Hedland.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.