Wah Nam International has just announced that ongoing mining at its Deepandvoid mine in southern China has failed to find a copper ore body. However, the mine operators in their futile attempt to find copper, were astounded to discover that they had dug their way to Australia ?emerging at Brockman Resources' Marillana tenement in the Pilbara region of Western Australia.
The CEO of Wah Nam International Mr Peter Strike Me Lucky immediately announced that WNI will not be letting this direct passage from China to the mineral rich region of Australia to go wasted. He said that Wah Nam will be able to use its limousine service to transport willing Chinese workers direct to the Pilbara to help overcome the labour shortages being experienced by Australian mining companies. Mr Strike Me Lucky was quoted as saying ? we have looked at the Australian Government?s immigration policies and find that a person can only be classed as being an illegal immigrant to Australia if they arrive by sea or air. Arrival into Australia by subterranean tunnel does not make a person an illegal immigrant nor allow their expulsion from the country.?
Investigations by Department of Immigration officials have confirmed that existing immigration policies do not preclude arrival by subterranean tunnel and it appears that Wah Nam International has indeed found a loophole in Australia?s border protection and residency policies. The Government?s recently signed agreement with Malaysia and the opposition?s pacific solution policies are now in effect redundant.
In order to exploit this loophole and maximise shareholder value to WNI shareholders, Mr Strike Me Lucky announced that the fare to Australia by limousine via the subterranean tunnel will be $1 million AUD for 4 passengers. There has been a huge demand from Chinese citizens seeking the opportunity to relocate to the Pilbara to help China plunder Australia?s riches. At the latest count, over 50,000 Chinese citizens had paid the 100% non refundable fee. Additionally, Mr Strike Me Lucky has said that the limousines have had roof racks installed to allow them to transport railway sleepers and tracks, thus enabling a low cost Chinese made railway to be built across the Pilbara to assist emerging iron ore miners with stranded deposits. In a further sign of Mr Strike Me Lucky?s shrewd business acumen, he said that returning limousines will be able to carry 1 ton of iron ore back to China, thus circumventing the probable port development obstacles likely to be faced by members of the North West Iron Ore Alliance. There are unconfirmed reports that miners in the mid west region of Western Australia are looking to build a railway line to the head of the subterranean tunnel.
The Managing Director of Brockman Resources, Mr Wayne Ragstoriches is believed to be pleasantly surprised by these developments. Wah Nam International had promised to help with railway construction and had been reticent about BRM signing an agreement to hand over 80% of its holdings to FMG for the right to access FMG's Cloud Break railway line. Mr Ragstoriches is now believed to be in advanced discussions with WNI about building a railway to the future port. In a further development, Mr Ragstoriches indicated that BRM plans to build a mining village 2 years ahead of schedule and use it as a halfway house for arriving Chinese workers. Accommodation is believed to be $2,000AUD per week per worker, which is quite reasonable given the region?s average rental costs. However, Mr Ragstoriches indicated that rental rates will increase once the government?s carbon tax is introduced, although he was unsure of the amount or how the tax directly impacts on the accommodation.
Mr Ragstoriches indicated that Wah Nam were now looking to diversify into becoming a labour hire company placing arriving Chinese workers with the region's labour deprived mining companies. He is not sure if this will be the catalyst for a Wah Nam capital raising. Wah Nam?s chief financial officer, Mr Henry Tea Bag, was unavailable for comment.
The WNI share price has soared in recent days and is currently trading at 20 cents AUD. The recent 100% appreciation has not been questioned by Australian regulatory bodies and therefore speculation of insider trading is unwarranted.
BRM Price at posting:
$3.40 Sentiment: None Disclosure: Held
