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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Brinkley Mining | BRM | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 1.60 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 1.60 | 1.60 |
| Top Posts |
|---|
Posted at 06/2/2011 17:44 by tomandgerry Hi Glue,Still caught up with suspended Equator CFDs and so doing virtually no trading. I have recovered fairly well on some other plays, notably Cambrian Coal taken by Western then in turn by the yanks. Also gained with Fortune. I had great hopes for ENK but they are being screwed about by the Turks over a forsetry felling license. Would you believe that I never even got on to the broker over BRM?? My BRM holding is only worth about 1300 at this stage. I moved most of my shareholdings to Saxo bank a few years ago, when I left BRM and a few odd ones with Sharewatch as saxo wouldn't take them. I have been out of touch with Sharewatch since, tho I gather they have been taken over too - must follow up on it. I have too little liquid funds until lately to do any trading but I am thinking of dipping my toe in again soon. I am surviving the resession as I have a business that seems designed to thrive on adversity but it has had to keep funding my past property mistakes, which continue to gobble up any loose change I generate. I have not had to sell anything in distress, however and remain (cautiously) hopefull!! Sorry to hear you are caught in another suspension, tho it seems to e at least at a profit.... Regards, Tom |
Posted at 09/12/2010 21:14 by tomandgerry Hi Glue,I just hold a small amount of BRM - 64222 shares - so I have not paid much attention to this up to now. Most of my shares are with Saxo Bank, where I have a trading platform, but they wouldn't take my BRM when I transferred my holdings from Sharewatch/Sharedeal I trust all is well with you - you were quite heavily invested here as I recall. Did it work out okay for you? Regards, Tom |
Posted at 28/10/2010 10:46 by linney3 stu31 - Your calulations are flawed. 10,000 BRM eqates to 839 EUG shares.EUG trade at a mid price of 25cent putting a value of A$209 on the holding which equates to £129 or 1.29p when divided by 10,000.So effecively the share price is not tracking EUG at allAlso,Chris,I disagree with your dilution theory.BRM shareholders are being given a stake valued at £4million in EUG.However thy are bringing over £10million of immediate value to EUG,and this increases EUGs net worth by over £6milion. EUG has a current capital value of £9.47million so the dilution of 28% is far outshone by the immediate value being brought to the table in DRA shares and pure cash. |
Posted at 08/10/2010 18:54 by linney3 Some more interesting facts to mull over:Eurogolds total investment to date in Brinkley is exactly £2.5million.For this figure they have a 42% interest in Brinkley PLC. Brinkleys total assets(Dragon shares = £9.76million and £867k) = £10.63million) Eurogold hope to acquire the total ISC of Brinkley for an all share consideration of Eurogold valueing the transaction at just over £4million. In return BRM shareholders will get a 28% shareholding in the enlarged Eurogold company. - a company I might add where an illiquid situation exists. Therefore,for Eurogolds £2.5million investment they hope to acquire the remaining 58% for £2.32million in Eurogold shares(This figure excludes their own 42% stake at 1.14p which equates to £1.68million. So effectively,Eurogold will take control of Brinkleys share and cash assets of £10.63million for £4.83million which includes their "paper loss" on BRM share purchases at 1.85p for their initial 103.5million and their top up of 39.5million at 1.45p - and overnight they will have made Eurogold an immediate profit of £5.8million. Not for me and I have emailed PG and made him aware that a NO vote will be forthcoming from myself. I hate the idea that someone can have the neck to try get one over investors,and I can only assume that the RAB Special Situations holding has been influenced by PGs previous stockbroking experience and perhaps a friend in RAB. I for one,have seen my investment in BRM show an at worst value of one half penny,and finally when things are looking up,an Aussie investor trys to take my value away. However it is going to be an uphill struggle to wrest the 25% he requires to see this over the line - and a battle I hope he fails to achieve |
Posted at 01/10/2010 09:15 by linney3 Dragon announced overnight that it is now debt free having bought back all outstanding convertable notes/early redemption of a loan facility and has a healthy 24million cash in the bank.Additionally,DRA have expressed a desire to expand through acquisition,and maybe just maybe BRMs land banks will be of interest. Notes: BRM 12.68% interest in DRA(Excluding Eurogolds shareholding) equates to £9,760,000 at the close price of 17cent.This coupled with £900k in the bank gives BRM a total value of £10,660,000 or 3p a share.The valuation is purely on assets that can be easily valued and excludes the land banks which the old BRM management paid a pretty penny for in their hayday |
Posted at 28/9/2010 09:19 by linney3 Dragon hit 20cent overnight on over 25million shares traded,settling back at a close of 16.5cent.Eurogold shot up to 27cent on under 500k shares traded.DRA plans to recommence drilling in Finland.This activity occuring when the Aussie market was down and mining shares wer badly affected.Needless to say,BRM has not budged. On EUGs valuation of BRMs asset valuation at end of August,they have grown 65% on DRAs overnight close including the 35% reduction - basically BRM shares have a total value of 3p and with the 35% deduction 2p a share.This figure excludes value that can be achieved from BRMs land banks. Without labouring the point BRMs investment in DRA is valued at 5cent a share by Gunzburg and he is sitting pretty knowing that his offer expires at year end and not a lot anyone can do with the share price until then. The hope I hold is that DRA will become a takeover target and the BRM holding in that company will attain full value and a premium paid. Alternatively,if the DRA share price were to surge it must be reflected in BRM pricing level even while Eurogold have a takeover offer in place |
Posted at 09/9/2010 13:09 by chrismez Eurogold has a 4% stake in DRA.BRM has a 12.5% stake in DRA (in other words Eurogold have been using BRM to buy more DRA). If Eurogold wanted to buy more DRA to increase its own stake in DRA it would have to pay today's price for DRA which is about 14 cents. Far cheaper therefore for Eurogold to buy out BRM at 1.14p because in so doing they get lots more DRA which was purchased when the price of DRA was much lower. Like I said this not about shareholder value at all, this is about a smash and grab raid by Eurogold to pick up more DRA on the cheap. And my guess is they're doing this before DRA releases the Sept statement on mine longevity because EUG knows that DRA are on the verge of making a significant statement which will send the shares to 20c. Best get in now therefore and pick up the DRA stake cheaply. |
Posted at 09/9/2010 12:42 by chrismez Good post Linney - interesting figures.Do you get the feeling that Eurogold are going to let BRM's London listing fall away. At one point I thought they might reverse into BRM and take up the listing which Eurogold used to have on AIM but doesn't anymore? Looks to me as if EUG are proposing to gobble up BRM at half price (summer sale) and run off back to OZ with them, which then begs the question what are they gonna do with the land package BRM still has. |
Posted at 09/9/2010 10:31 by linney3 aka Gluefactory - The proposed acquisition would give BRM shareholders exactly 40% of the enlarged Eurogold stock.An interesting point on the calculations - DRA stock was at 10cent on 31st August - the calculation date,and now trades at 14cent ie.40% above the valuation.Remember BRM has a 12.68% interest in DRA,and EUG only a 4% stake. BRM therefore have over a threefold greater interest in the rising asset that is DRA shares. Any major holder of BRM stock will see the differential in price offered and reject the acquisition offer IMO. For the record based on Eurogolds 35% discount to asset value the 14cent valuation would put BRM shares on a value of 1.6p and not 1.14p as EUG would like us to think.As Chrismez said they chose the price 8 days before making an offer proposal.If the DRA price had not shot up 40% my guess is they would not have made an offer at this time |
Posted at 08/9/2010 11:35 by linney3 Onward and upward Samtom (should you not be looking out your window at Connaught Offices - a few PIs might like to have the same view as yourself with a few loaded 6 shooters!!)I have done some crude calculations on BRM value vis a vis Dragon holding coupled with remaining cash: BRM holding in DRA equates to 12.69%.DRA value is $99.54million which is $12.63million - BRM investment was $8.4million so we are showing a profit on investment of $4.23million.The pound value of our holding is £7.5million which when coupled with cash in the bank at 30th June 2010 of £867k(less £167k for costs for Q3 which is pessimistic) Total = £8.2million. There are 356,336,248 shares in issue,giving us a share value of 2.3p today(This figure does not include any assets within BRM such as land banks etc) For the record Eurogold participation in BRM was in 2 major tranches.The initial purchase of 103.5million shares was transacted in August 2009 at a share price of 1.85p.The second tranch of 39.5million was transacted in February at a price of 1.45p.(The total % of these 2 buys is 40.19%)There have been a few minor top ups at a penny and under bringing Euro holding up to 42%.and which Eurogold are now showing over 50% loss on investment value based on the bid price of BRM currently. Crude figures show Euros investment in BRM to be around the £2.55million level,which equates to a £894k profit ( 35% return) on their investment at todays "asset" value.However,as I have stressed numerous times before,I do not believe Euro are in BRM for a "punt",and the real value to Euro will come from their DRA holding(of which they also hold 4% privately)coming to fruition Ok - end of rant! |
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