BMG - BMG Resources - Aussie Stock Forums

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  1. #1

    Post BMG - BMG Resources

    Brazilian Metals Group Limited (BMG), formerly known as Lefroy Resources Limited (LEF), is a Perth based company listed on the ASX. It is focussed on the Rio Pardo Iron Ore project in Brazil.

    Previous discussion of this company can be found in the LEF thread: http://www.aussiestockforums.com/for...ead.php?t=5126


  2. #2

    Default BMG - Brazilian Metal Group Limited undervalued?

    I just read this article:


    What do guys think of the current state of this company. Are they really undervalued?
    I actually bought them a few months ago at 37c and made a loss. but @10c seems to be a good buy seeing as their potential and low costs for production seem quite positive. But time will tell.

  3. #3
    Make the drill work for YOU springhill's Avatar
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    Jun 2007
    Mental Institution

    Default Re: BMG - Brazilian Metals Group

    I made some good coin on BMG when it was known as Lefroy. It seems to be calling me to return to its fold, but I must resist the lure of The Sirens.

    Announcement out today that tends towards this being a decent stock for a speculative punt on future drilling results.

     Recent rock chip sampling at the Black Pine area has returned very strong copper-gold-nickelcobalt assay results, consistent with known mineralisation
     New very high-grade gold (18.25 g/t Au) and nickel (1.98 % Ni) assay results collected from Eastern Lode at Black Pine - Pevkos Prospect
     Rock chip assays from Black Pine - Laxia Prospect confirm consistently strong copper-gold mineralisation across all eight samples, with copper grades (and associated gold) ranging from 0.44 % copper (9.47 g/t gold) to 1.37 % copper (0.56 g/t gold)
     Contract for initial drilling programme awarded with drilling scheduled to commence at Black Pine

    Unfortunately with the last capital raising (430m shares @1c for $4.3m) the dilution puts the company into an area I am not comfortable investing in.
    With a market cap of $6m and cash holdings now around $4m, the MC:Cash ratio is good and should well fund an exploration program. The 600m shares on issue figure is just too high, I have been caught making exceptions for stocks like this before and generally it doesn't end so well.

    Lesson learnt. I will stick with what I know, but wouldn't be surprised to see BMG do ok in the short-to-mid term.
    "You have enemies? Good. That means that you've stood up for something, sometime in your life" - Winston Churchill

  4. #4

    Default Re: BMG - BMG Resources

    On December 17th, 2013, Brazilian Metals Group Limited changed its name to BMG Resources Limited.

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