Moz, during the GFC I could see significant upside and we didn't have the curse of WNI on our books. At that time, it was a punt and nothing ventured nothing gained. I gained plenty, and I still have over 60% of my holding, so I haven't totally sold out.
In those 3 years, rail access has not been finalised, which makes the whole venture a fantasy until it does. I honestly do not believe BRM are anywhere near a deal with FMG and that is why WNI have done what they've done to gain control. They've now complicated matters and I honestly think the market volatility will knock the SP down to its $1.80 support in the coming weeks.
BRM Price at posting:
$2.50 Sentiment: None Disclosure: Held
