shareholders letter, page-47

For me...sell on market = a loss.
Accept the WNI = a loss.

So I'd like to stay a thorn in the side for as long as possible.

Looking at the top 40 I was sent today, the nominee funds must be holding on behalf of WNI?

The top 9 holders hold 79.77% as of yesterday.

Looks like a lot of the larger holders have exited the stock. Guess they chose to take the $2.50 that Wah Sham's associates were offering on market than get stuck with the poo paper script and a measly $1.50 cash :/

Excluding the big funds...

FORSYTH BARR CUSTODIANS LTD
have SOLD 34,682

WAYNE RICHARDS has sold 66,921

PHILLIP SECURITIES (HONG KONG) LTD A/C>....gone! SELLING 294,000

FRESHWATER RESOURCES PTY LTD ....gone SELLING 260,585 ( though currently they still hold 633,629 in #10 spot.

MRS LEANNE BARTLETT ....gone! SELLING 250,000

MR SIMON ANDREW WALLISS..... gone! they held 41,000

BERKON PTY LIMITED FND A/C>....were holding 200,000...Gone!

SONTEL SUPER PTY LTD A/C>.....gone. were holding 115,000.

LIXMAS PTY LTD ...gone they held 93,650.

Couple of other holders who had 50,000 and 60,000+ are also gone.

* When I say gone, I'm referring to not being in the top 40 shareholder list.

I'm disgusted with Wah Nam....and that's to put it mildly. Thanks for screwing up my investment good and proper. I think you are too amateur to run a mining company and will do nothing but look after yourself and not share holders.

As I did with my DMC shares....you will have to get to 90% and pry my BRM shares from my hands to get them!