frs merger - we are not quite there yet, page-4

The way the world markets are going, who knows where things will end up. BRM, WNI and FRS share prices are all falling whether driven by the Chinese or not. I doubt WN will get 90% of BRM in the timeframe they want or maybe promised a third party. The scrip only offer was never going to get them the 90%, so we may need to review our thoughts that that's what they were seeking. They might consider it more financially beneficial to be major shareholder in numerous iron ore hopefuls than spend all their funds on totally acquiring one or two.