http://clients.westminster-digital.co.uk/minesite/microsite/events/50/video/index.aspx?companyId=50_1
=">http://www.proactiveinvestors.co.uk/pdf/brr.pdf
http://www.mineweb.com/mineweb/view/mineweb/en/page35?oid=39359&sn=Detail
www.braemoreresources.com
http://www.investegate.co.uk/Article.aspx?id=200711010702217873G



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http://www.resourceinvestor.com/pebble.asp?relid=38513
http://www.proactiveinvestors.co.uk/articles/art.php?BRR2
cyril

Are BRR about to join the 90% fallers club ..

Braemore Resources Plc ('Braemore') is pleased to announce the successful installation of the new 3.2MW smelter at the Mintek facility in Johannesburg, South Africa. The new facility is capable of processing around 2,000 tonnes per month and producing PGMs in an iron-nickel alloy at an annualised rate of up to 70,000 ounces per year depending on feed grade.

The smelting facility will steadily increase production over the coming weeks to reach these targeted processing rates. Braemore accelerated the upgrading of the smelter from an initial shut-down period of eight weeks down to four weeks in order to meet the current levels of demand for smelting high-chrome concentrates.

Leon Coetzer, Chief Executive Officer of Braemore, said, 'We have completed this upgrade ahead of time and on budget, and are pleased to be delivering on our stated objectives. We have worked closely with Mintek to commercialise their technology and we look forward to providing an economically and technologically viable smelting solution to the PGM sector.'

Braemore's 10MW smelter development programme is on track, with the Definitive Feasibility Study completed as planned and currently under internal and peer review. The study has covered a range of feedstock options and the appropriate capital expenditure for the project will be finalised once the optimal smelter feed source is determined, anticipated to be in the 4Q 2008.
cyril

Maybe this is the bottom..

It's certainly the first glimmer of hope we've seen in a long time!

The bottom will come when this chart begins to rise:

Rising today but cant help thinking its a false rally..

sub 4p will it fall to 3p.

Platinum still dropping. Currently $1175, so that & a bad day on the markets generaly, I would say yes.

Looking that way today Harry.

BRR looks like we have caught a cold on this one, delighted I sold SRB at a small profit a couple of months ago. A lot of tiddlers are getting hammered.
2517

I will buy at 1p and not before..

Not exactly what one wanted to hear at this moment in time, with the market looking to thrash any weakness.

TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited, a listed company is required to
publish a trading statement as soon as it
becomes aware that the financial results for the next period to be reported on will show a
difference of 20% or more from those of the
previous corresponding period.

Shareholders of Braemore are advised that Braemore expects its earnings and headline
earnings per share for the year ended 30 June 2008
to be between 20% and 40% - lower than the corresponding period disclosed in its Pre Listing
Statement published on 9 July 2008.

The financial information on which this trading statement is based has not been reviewed
or reported on by Braemore's auditors.

The group's abridged audited results for the year ended 30 June 2008 will be released on
SENS on 29 September 2008 and the annual
report, including the notice of Annual General Meeting, will be mailed to shareholders on 30
September 2008.

cyril

Thank you Mr Bulford!

Eat my pants Bulford.

Results may be over 20% worse than last year, but,.......

There are twice as many shares as last year, and,......

As they havn't been trading over there for a year yet, did they have to report this.

Some one may be pushing the price down, deliberately.

Could be a good time to top up IMHO DYOR.

What about the continuing fall of metals prices? No sign of a turnaround at the moment.

nor likely to be in the immediate future, though certainly the demand for stainless and carbon steel seems to continue without hiccup ...... yes i know nickel has slumped, but at its peak, it was at a silly level

Given that new cars are currently as popular as Canadians at an Oasis concert, there won't be any imminent upturn in the price of platinum.

Pinched from iii forum

For a start, Braemore have not missed "targets".

Secondly, Braemore have not failed to meet "forecasts"

The RNS states very plainly that they expect to have a loss per share (the RNS says earnings, but of course they mean negative earnings) which is greater by more than 20% than the loss they made in the corresponding period as set out in the JSE listing document. i.e. for the year ended 30 June 2007.

The relevant figures in the listing document were:

Operating loss for the full year to Jun 07 (923k)
Operating loss for half year to Dec 07 (1,015k)

There were no projected figures for the full year to Jun 2008.

So, hands up, folks..

1. Who thought that Braemore were going to spend less this year than last year?
2. Who thought that given a loss by Dec last of 1,015k - i.e for HALF the year, the loss for the FULL year was not going to be at least 20%-40% greater than it was in 2007?
3. Who thought that the full year loss was likely to be much better than TWICE the half year figures?

Frankly, if Braemore have held their increased loss for full year to June 2008 down to 20-40% over the loss in full year to June 2007, they have done very well.

READ what the RNS actually says
LOOK at the figures they are talking about when they mention the listing document
USE your common sense

Even given the current nervy state of the markets, I have never seen such a silly and unnecessary kneejerk reaction to a complete non-event.

And it IS a non-event. It is perfectly normal for companies in the later stages of development to spend more and more every year, increasing their losses.

For example, Landore announced this morning that their half yearly loss was more than 300% the half yearly loss for the corresponding period last year. Has the bottom been ripped out of Landore by massive kneejerk selling on the part of shareholders?? Course it hasn't. People there have more sense.
--------------------------------------------------------------------------------
Max; I think we may be looking at the East for growth the way things are
working out?
cyril

so how many 000s are you buying this morning?