The presentation is in parts laughable.
The ore valuation table is dated October 2011 and includes Flinders - which no longer exists.
It's amusing that the purpose of this graph is to lament the low price per tonne and show the upside, yet the Board is telling us that selling to Wah Nam for less than this is a 'fair deal'!
Just who is this presentation for? Are they trying to dupe HK investors into buying more WNI pulp on the basis of the huge 'upside' in BRM's valuation?
..and more importantly - if Opthalmia is worth NOTHING (as the Board in effect concluded by refusing to have the company re-valued after receiving breathtaking drilling results) - why does it warrant its own slide? If it was worth something, then the Board would be breaching their fiduciary duty to minority shareholders by continuing to endorse a bid that excluded it from any valuation. ASIC?
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