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

so how many 000s are you buying this morning?

New RNS presents the information in a rather better light - yesterday's RNS seems to have been prepared by NOMADs to cover their arse without proper consultation with the company. I'm sure they could have got together today's report yesterday if anyone had been on the ball.

BRAEMORE RESOURCES PLC
JSE: BRE AIM: BRR
(Braemore or the Company)

Trading Statement Clarification

Braemore Resources plc refers to the Trading Statement issued yesterday pursuant to the Listing Requirements of the JSE Limited.

In response to the decline in Braemore's share price, the Directors of the Company advise that:

i) Braemore is not aware of any material adverse change to the prospects of the Company and continues to operate in line with managements expectations;

ii) Braemore continues to be well financed;

iii) the Companys upgraded 3.2MW ConRoast platinum smelter will be cash flow positive on reaching full commission capacity, scheduled for mid-October 2008, with an expected annualised production of 70,000 ounces of PGMs, depending on feed grade;

iv) whilst the audit of the financial results for the year ended 30 June 2008 has not yet been finalised the Company expects an after tax loss for this period of 1.4 million (loss per share:0.21p). This compares with an after tax loss of 0.9 million for the year ended 30 June 2007 (loss per share: 0.16p);

v) the increased loss in 2008 is principally due to expanded overheads in support of the significant progress made to its South African platinum and Australian Nickel projects.
The preliminary results for the year ended 30th June 2008 will be announced on 29th September 2008.

Braemore expects to provide further announcements on the positive developments of its projects over the coming weeks.
cyril

A postive responce to yesterdays dramatic drop in the SP, but then thats the market at the moment. It also brings out the rabble with little to offer other than cheap snips,bad enough in normal times but with the market as it is a little more sensitivity to fellow investors would seem in order.
Myself most of my investment are long term so todays price is less important, for those who have over recent days who have had thier stops triggered its not at all nice.
Back to BRR, well worth reading the last paragraph,"positive developments over the coming weeks". Sounds to me like we are about to get the result of the field trial at Leinster, if so and as good as the lab results, we could see the SP making progress and giving a value reflecting the outstanding potential of this up and coming company?
aimho
cyril

i haven't held shares in BRR for several months now having been totally disillusioned after the load of hogwash fed to us at the last AGM - e.g. BRR should move into profitability within 2 years

only buy if you can't think of a better gamble on which to make a turn ...... and book yourself in for a brain scan, if only to check that you have one and that is still technically alive!

Firstly let me say i'm not the slightest bit interested in what you hold, i post hoping to share info gained. What you choose to hold is your business and mine is mine,personally i would not post an opinnion (and thats all we get from you)on stock that does not concern me. When you attempt facts they usually wrong( CEY a gold producer,not for at least another 6 months?EME non producer, when they had Margarreta up and running and i'm still waiting for the duster from S/Kane S/Loaf) .
Your last post is typical of what i've read from time to time, rather pathetic
and you have little to offer for me, so your squelshed.
cyril

oh dear; huffy puffy or what? ..... i repeat, "You need your brain examined to buy this stock!"

In fairness cynic, All you have to offer is your usual opinionated bullshit!! I have yet to see a post of yours with any in depth research into any plc from a supposed seasoned investor/speculator. You admit yourself at times (based on previous posts) that your too lazy to look into co. fundamentals. I think enough said,

opinion is by definition opinionated, but it is surprising how often i am right, even if i often fail to follow my own advice .... and if someone wishes to take a swipe at me, then it is very rare for me to get uppity about it

As much as I admire your commitment to these small AIM stocks Cyril with your continual information updates, you are taking great risks. Yes, in a few years time they may bring you great reward. Likewise they may all be bust because they can't cover their debt or find any more money.

Most of us have money stuck in some of these stocks, I certainly have, but to invest more money now is surely inadvisable bearing in mind they are travelling south with little hope of respite in the near future.

It would seem that there will be good news coming out of BRR soon. This could well be a good entry/top up point.

Dealerdear i agree that their is risk and my reason for posting what i consider relative info. Is this not what a BB is about, exchanging info and views with the
aim (bad phrase) of allowing readers to make better decisions? I simply report
what is about (not giving advise), i've had some notable sucess IEC (where
for quite a time i would talk to myself), VOG,EEN,WTN,CDN and CBM along with BRR which hit 24p before the hype,(sold 22p) lost its gloss.
All share have their up's and down's but at the present its factors outside of normal business which is effecting most stock so BRR like others will take a bashing
and should be seen in that light.
regards
cyril
P.S. Someuwin, yes a point i made along and with 70,000 ounces of platinium,
gives imho reason to be positive?

cyril agree imo brr have good chance of going foreward but we must always rember shares can go up and down. Dealerdear if you don't realise that you should not be investing in aim stocks i invested in brr for the long term 2010 and beyond and any information posted on these boards are very welcomed by me but i make my own mind up if to top up or not cynic if you dont hold brr why bother to post on this thread.tb5

Just in from Google alerts - topical interview with our Leon, audio link available. It includes a suggestible reference from the interviewer to Wits Gold who apparently have some parallels and are valued at 100 Rand. Happy Friday and thank you Dow ...


"Summit TV speaks to Leon Coetzer from Braemore Resources about the unexpected drop in their share price as well as their unique pilot platinum refinery plant


David Williams: Welcome to Face to Face. Were talking to chief executive of Braemore Resources Leon Coetzer. The companys share price dropped abruptly and quite a long way - a bit of mystery there - also more broadly about the platinum sector and platinum juniors. Leon, before we talk about the share price drop lets look at Braemore Resources. Give us the context - whats the scale of the operation, and what you do?

Leon Coetzer: Braemore is a very interesting company that brings a very unique story to the platinum sector. Quite often people class Braemore as a purely technical company - although Braemore has and is very successful at developing and establishing technologies this is only the first phase of its business. Braemore really focuses on two metal sectors - platinum thats South Africa dominant, and of course its nickel business in Australia. The platinum side - which is more applicable to South Africa - has gone through very interesting and exciting times where the first phase of the business was establishing a technology that offers a very unique solution to address some core needs in the platinum industry. Its now gone through the phase of acquiring that technology and developing it into a robust solution, and then very excitingly expanding it into a very large demonstration plant in September. The company is now aggressively going into phase two of its business bringing this technology to the market - commercialising it into the platinum industry, and allowing more and more platinum companies access to this very exciting technology.

David Williams: What is the scale of the company - how many people are working for you at the moment?

Leon Coetzer: The company originally employed a very focussed technology team - its original employees were world-renowned for their technology knowledge as a highly skilled team. The company is currently going through dramatic change from focussing purely on establishing the technology into the commercialisation of that technology - its that team that is currently expanding, the business development side of the team. The demonstration plant to put it into perspective - because often people think of a demonstration plant as something a laboratory - this demonstration plant is smelting 2,000 tons per month of concentrate and producing up to 75,000 ounces of PGMs a year so it is a very sizeable plant.

David Williams: It sounds exciting. Something happened to your share price with a drop of 40%. You had to put out a statement saying you dont know why - and that in fact nothing has changed. You dont understand why this has happened?

Leon Coetzer: Yes, it was very unfortunate. It was basically driven by an obligation to abide by the regulations of the JSE which simply stated that within 10 days of releasing our annual results we have to make an earnings statement to the market. Thats a statement that is guided by very strict principles - its not a statement that can be used to explain the earnings statement. Of course in a company like ourselves who are establishing a technology - and now commercialising it and therefore aggressively expanding our asset footprint as well as the physical size of our operations, where our focus right now is investing into the company - our earnings in the company are really only going to grow significantly after full commercialisation of our facility.

David Williams: Surely people knew that? This couldnt have been a surprise given the kind of company that you are?

Leon Coetzer: We probably overestimated that understanding. Quite often you get individual personal investors who might not have understood clearly that the company is in phase one of its business - which is aggressively growing its platinum business right now, as well as its nickel projects - therefore we will be investing very heavily into the company.

David Williams: Isnt it comparable to a company like Wits Gold where the share price when I last looked was over R100 but they dont earn anything yet because they dont exist in a mining sense. Everyone seems to understand that. Are you implying that they dont understand that with you?

Leon Coetzer: Yes, I think the problem is because the Braemore story is unique. Weve really been making a considerable effort to ensure that the market is educated in that sense. Yes, its a very exciting story - our investors are very supportive of the fact that Braemore is bringing such an exciting technology to the market. We are on the main board of the JSE under the production companies - because although we are developing a technology we are in fact producing platinum ounces.

David Williams: Is it possible that the big drop - I dont know how tightly held you are, and how diverse your shareholders are - but maybe there is a big shareholder who has taken a view and maybe thats the cause?

Leon Coetzer: Not at all. The big drop is definitely not from our major shareholders. In fact after the statement that went out on Thursday morning into the market weve seen a recovery in our share price exceeding 45% of the value - so I think the market has taken note of the context of the statement on Wednesday that wasnt a profit warning at all. It is simply a statement giving the market information of our earnings per share at this stage

David Williams: You are in an interesting position because youre a life-long mining person - you are a chemical engineer - but youve been chief executive full time for two weeks

Leon Coetzer: Yes, my whole career has been built around identifying new technologies and bringing them to fruition in as quick and cost effective way as possible. That allowed me to build a very successful career in a very major mining company.

David Williams: That was Anglo Platinum?

Leon Coetzer: Correct. I moved across to Braemore in a temporary capacity from 1 July. There was an agreement between my previous employer and myself that over a three-month period I would slowly extract myself out of that business to ensure that the transition is smooth and currently from 1 September 100% of my effort is focussed on Braemore and its projects.

David Williams: A baptism of fire. "

cyril.

I wasn't being critical just making the point that AIM cy's are all static or losing value at present so IMO there isn't any point in throwing anymore money at them. The MM's would love us to do it cause they can then keep our money for a considerable period of time. Even the 'darling' CFM has crashed to 16p before today (and yes I am in it!)

Teddy bear - 'if you don't realise you should not be investing in aim stocks' I'm sorry, I don't understand your point.

Teddy great post, DD no problems, yes AIM is a target at times like this, through no fault of their own. All share carry risk, NKR,BB.,HBOS MARCONI all blue chip and
look whats happen to them?
My investmrnts are long term so not to worried by the present turmoil, nice to see a recovery by BRR today, i did get into ELP sub 4p and they're going well.
regards
cyril

Back to 3p..?

BRR due to report tomorrow probebly a rehash of the news issued to the JSE, with
hopefully some positives updates as indicated in that report?
cyril

Preliminary Results for the year ended 30 June 2008

Braemore Resources plc ('Braemore' or 'the Company'; JSE: BRE; AIM: BRR), the international group focused on mid-stream processing of platinum and nickel, announces its audited results for the year ended 30 June 2008.

Highlights:

the successful commissioning of the demonstration ConRoast smelting facility in Johannesburg, resulting in Braemore producing its first PGM ounces, generating first-time revenues for the Company for the year of 9.0 million

successful metallurgical testwork completed on atmospheric leaching of nickel sulphide tailings and acid regeneration and recycling;

firmly establishing the groundwork for the first independent, black-empowered PGM smelting facility in South Africa;

Post-year end events:

the appointment of Leon Coetzer as Managing Director and Chief Executive Officer with effect from 1 July 2008.

As of 2 July 2008, the Company raised 6.5 million gross through the issue of 100,008,000 ordinary shares at 6.5p

On 16 July 2008, Braemore commenced trading in the Platinum and Precious Metals sector of the JSE Ltd in South Africa.

Commenting on these results, Leon Coetzer, Braemore's Chief Executive, said:

'Braemore has made significant progress over the past year in both its platinum and nickel operations, despite challenging market conditions. The proceeds of our recent capital raising will contribute to the development of our first commercial PGM smelter and the Leinster bankable feasibility study. We remain convinced that the enhanced recovery processes we can offer potential partners will enable us, ultimately, to create a fully vertically integrated operation, right across the mine-to-metals spectrum.'

cyril

And,
CHAIRMAN'S STATEMENT

The past year has seen Braemore Resources make significant progress in both the nickel and platinum arenas, and I am pleased to report on the forward momentum achieved amid challenging market conditions.

Our activities and results for the year reflect the continued implementation of our business strategy; to offer an attractive opportunity to enter into the platinum group metal (PGM) and nickel businesses, initially through the mid-stream processing of these metals and, in time, through mine-to-market production opportunities. This strategy is unique in the industry and is the non-traditional way of building a vertically integrated mining company. We are confident of both the quality of our technologies and the expertise of our people, and the value that this offering presents.

Progress on the nickel and platinum fronts

The development of our Australian nickel strategy continues at a steady pace. The initial metallurgical testwork done on the Leinster nickel sulphide tailings using sophisticated leaching technologies has indicated reduced acid consumption during the leaching process and produced nickel yields and dissolution rates greater than 90% in eight hours. Additional testwork combining technologies has improved on these leaching results. In addition, testwork on recovery of sulphur for acid regeneration has implications in terms of reduced acid consumption. These are considerable advantages when applied to the capital and operating costs of the Leinster project and reinforce our belief that by having access to such technologies, we have the ability to transform the environmental impact and financial returns associated with the treatment of these tailings. Our agreement with BHP Billiton gives us access to some 164 million tonnes of sulphide nickel tailings, assessed to contain some 486,000 tonnes of nickel, at their Leinster, Mt Keith and Kambalda projects.

The platinum arm of our company has had a successful year, and we are delighted with the progress made at our ConRoast smelting facility in Johannesburg. This facility has been developed with Mintek, South Africa's national mineral research organisation and a world leader in mineral processing and extractive metallurgy. The smelting facility has been operating since October 2007 and has to date smelted 8,279 tonnes of low grade PGM, high-chromium content smelter feed and produced approximately 15,000 ounces of PGMs (3 PGMs + Au) in granulated alloy form. Most of this material has been successfully sold via sales contracts to international refiners and South African PGM producers, all of whom have expressed satisfaction with the PGM and base metal product. The facility has been upgraded shortly after the financial year end and operation resumed in September 2008, with expected annual production levels of up to 70,000 PGM ounces, depending on feed grade.

The ConRoast process provides considerable advantages from both an environmental and operational perspective and we are excited about being able to offer smelting capacity to the emerging UG2 platinum producers that are currently hampered by constraints and penalties imposed by traditional smelting facilities. This is a function of the high-chrome content of the UG2 ore being mined and its incompatibility with traditional smelters. There are substantial new platinum producers coming on line in South Africa over the next few years, both as a result of changes in minerals legislation and steady global demand. We are well-positioned to provide an independent, black-empowered smelting option to the market. Discussions with a major BEE partner are well advanced.

Our belief has always been, and remains, that by offering improved processing alternatives to the market we have the ability to enter into joint ventures or pool and share agreements with junior and major mining companies. We aim to use these agreements to leverage Braemore across the mine-to-metals platform to create a fully vertically integrated mining company.

Braemore and the commodity markets

The resources sector faces a period of uncertainty as fear and confusion reign across the trading floors of the world's stock exchanges. The market turbulence over the past year has been predominantly driven by the sub-prime crisis, rising oil prices and global recession concerns which continue to affect sentiment for industrial metals such as PGMs and nickel, amongst other commodities.

As stated, the PGM and nickel markets have both been negatively affected by the movements in the markets over the past year. However, the metal charts, when viewed in light of market supply and demand fundamentals, are not as foreboding as one can be led to believe. Nickel, despite falling from levels around US$37,000 per tonne in June 2007 to around the US$17,500 per tonne, remains in demand as about 65% of all nickel produced is used as the main alloying metal in manufacturing stainless steel. China and India continue to require stainless steel to fund their infrastructure drives. There still exists a huge gap in nickel demand per capita per year between the developed economies and those of India and China. Nickel peaked at just under US$55,000 per tonne in May 2007 driven predominantly by producer dominance. These prices were unsustainable in the long term, and the nickel price has fallen sharply. This collapse has resulted primarily from falling demand as stockpiles rise and recession fears bite. During the year some Chinese steel producers substituted nickel metal with nickel containing pig iron to reduce dependency on the higher priced metal.

The PGMs sector has recently been subject to extreme price volatility, and platinum and rhodium in particular, have been under close scrutiny in the market. The platinum price jumped to record levels at US$2,400 per ounce in late February 2008 as supply concerns were raised due to the power crisis in South Africa, home to 90% of the world's platinum resources. However, economic recession fears have also driven PGM prices dramatically lower. Platinum has fallen to US$1,097 per ounce and rhodium has followed suit, after touching over US$10,000 per ounce in June 2008 before falling to US$4,100 per ounce. Fear of a USA-led auto-catalyst sector demand decline due to the global credit crunch, has resulted in PGM price levels significantly lower than 12 months ago. Additional uses for PGMs in the electronics industry, particularly in mobile phone technology, along with the burgeoning automobile industry in Asia we believe will sustain global demand.

Our share price has not been immune to the global market weakening, but we remain confident of Braemore's intrinsic value. We have been fortunate in this climate to have been able to complete a fundraising in London on 2 July 2008, issuing 100,008,000 new ordinary shares and raising GBP6.5 million. The capital will be used to fund capital expenditure on our first PGM smelter in South Africa and the Leinster bankable feasibility study.

This was followed by a listing on the Johannesburg Stock Exchange on 16 July 2008. Our JSE listing will supplement our AIM listing and provide us with access to the South African capital markets and its PGM-savvy, informed investor base whilst establishing an increasing presence in one of our main countries of operation.

The way forward

I would like to take this opportunity to thank our board of directors and staff for their continued efforts, and to offer a warm welcome to our new chief executive officer, Leon Coetzer, who brings to Braemore over 21 years' experience in the platinum sector at a crucial juncture in our development on that front. We thank the acting CEOs, David Russell and Clayton Dodd, who stepped in on the resignation of the previous incumbent earlier this year. The year ahead promises to be demanding, particularly from a commodity market perspective, and we look forward to rising to the challenge.

David Humann
29 September 2008

3. LOSS PER SHARE

The loss for the year attributed to shareholders is 1,409,000 (2007: loss 921,000). This is divided by the weighted average number of Ordinary shares in issue calculated to be 680.8 million (2007: 592.2 million) to give a basic loss per share of 0.21p (2007: loss per share of 0.16p).

cyril