Notwithstanding WN's attempts to destroy value, BRM is still one of the cheapest Fe plays out there.
Currently trading at circa $1/T for a resource worth $180/T on Marillana alone, and you throw in another 39 tenements as icing.
Unfortunately WN seem intent on diluting themselves into oblivion which makes it difficult to realise full value.
You'd think a rail deal might make it worth at least $5/T and that would propel BRM to a price of $15/share. Can't see WN assisting here before it owns 100%. The conflicting strategies, confusion and general appearance of imcompetence could all be part of strategy to dupe shareholders into selling their shares on the cheap.
BRM Price at posting:
$3.77 Sentiment: None Disclosure: Held