Insights

Brockman Mining (ASX:BCK) share price rockets 240% today

If you’re looking for today’s biggest mover, you’re probably eyeing the Brockman Mining Ltd (ASX: BCK) share price. Its going bonkers today!
The post Brockman Mining (ASX:BCK) share price rockets 240% today appeared first on The Motley Fool Australia. –

rising Boral share price asx share price represented by investor in hard had looking excitedly at mobile phone

If you’re looking for today’s biggest mover, you’ll probably be eyeing Brockman Mining Ltd (ASX: BCK) shares.

At its highest point today, the Brockman Mining share price had rocketed 361% higher than yesterday’s closing price.

At the time of writing, shares in the company are trading at 8.8 cents, representing a still mammoth 238% gain. 

What’s lit the fire under the Brockman Mining share price? Let’s take a look.

Farm-in and joint venture agreement

Today, Brockman Mining announced its farm-in and joint venture agreement with Mineral Resources Ltd (ASX: MIN) has come to fruition.

The deal was first announced in 2018, but today’s news is that the companies are finally signing the joint venture portion of the agreement. 

The deal is between subsidiaries of both companies. Brockman’s Brockman Iron and Mineral Resources’ Polaris are representing their ASX-listed parent companies.

Originally, the deal would have seen Polaris securing 50% of Brockman’s Marillana Iron Ore Project. Today, it’s been updated to also include Brockman’s Ophthalmia Project.

Under the agreement’s terms, Polaris began a farm-in venture at Brockman’s Marillana Iron Ore Project. Once Polaris had met its farm-in obligations, the companies would form a joint venture, each owning half of the Marillana Project.

The farm-in agreement’s obligations include Polaris providing Brockman with a $10 million loan, spending $250,000 to explore and develop Marillana, and completing a mine site plan.

There’s also an agreement that another subsidiary of Mineral Resources would pay for and build a rail and port system from the project to Port Hedland ­– a distance of around 270 kilometres.

According to Mineral Resources, the project will mine iron ore to be sold in China.

Brockman Mining share price snapshot

The company is dual-listed on both the ASX and the Hong Kong Stock Exchange and, while it’s prone to volatility, today’s moves are next level.

Currently, the Brockman Mining share price is up by around 47% year to date. It’s also up by 340% over the last 12 months.

The company has a market capitalisation of around $241 million, with approximately 9.2 billion shares outstanding.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.

The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Brockman Mining (ASX:BCK) share price rockets 240% today appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!