This means converting to AGO's shares will be 10,233,600.
Multiple by 3c (per share) = $307,008 cash in their pockets (I think they need the money more)
Also another factor looking the trading volume of FRS at the moment esp. low liquidity. It would be hard for WNI to sell FRS for over $1 at such liquidity.
So this supports my thought, that WNI accepting AGO's offer, then they can wait for the opportunity when AGO is over $4 and sell it then."
I think they will accept and then sell out of AGO.
I think it is a strong likelyhood that WNI will use the money they get from selling AGO to purchase more BRM through associates, before the rail deal comes out.
BRM Price at posting:
$2.73 Sentiment: Buy Disclosure: Held