Personally, I think the changes are positive. Looks like the new folk have experience getting mining projects operational and one even has exp getting a rail project established. Can't comment on WR as a person as I never spoke to him, but I sense that BRM wasn't going to get to achieve a final outcome without personnel changes. He's gets a decent payout and still has a hefty swag of stock.
Seems the FMG rail/port deal wasn't as advanced as were led to believe, and at least they've now said that it could be JV with a minority stake. Will be interesting to see what sort of sway Peter Luk has in the investment world to get a good deal.
Looks like WNI are in it to make money, so it's got to be good for all shareholders.
BRM Price at posting:
$2.90 Sentiment: None Disclosure: Held