wah nam want it badly, page-10

Moz, personally I don't believe WNI are out to trash BRM rather they use language that is more measured than the previous management, who I believe were using language that pretty much was misleading.

From what I can see, they are proceeding with drilling in Opthalmia,reviewing the mine processes to increase the returns and reduce costs, and still in discussions to determine the preferred rail option.

If WNI were really keen to demolish the SP in order to pick it up for nothing, they wouldn't have continued with drilling which is likely to produce outstanding assays. Similarly they could have said all rail discussions have been stopped. Reviewing the mine plan to incorporate improved and more efficient practices for lower costs and improved returns also doesn't seem a smart move if value destruction was the motive.

Sure things have been put back a bit, but it hasn't delayed a mining start up date - which is probably still 2014. We're just going to have to wait a little longer to get the returns we anticipated.

In the middle of this year I sold a heap of stock because I believed that the European debacle would cause a fall in the market (which it has) and because I had lost confidence in WR's abilities to take it to the next level. I still believe that WR was a bullshit artist that got caught out when it came to negotiating/closing the most critical deal for BRM's success. He certainly was on the ball for feathering his own nest. The other thing that irked me with him was his spending time attacking government tax policy rather than concentrating on the task at hand.

In note that Wah Nam has appointed people with appropriate mining skills and experience - again not something you'd do if you wanted to smash the SP.Interestingly, those of Chinese background have been trained/educated in Canada.

I look forward to seeing future announcements that aren't full of language that make shareholders feel good but instead focus on accurately reporting where things are at.