Hello XXXXXXXXXXX, I will try and answer the questions, the best I can. In some cases you will not be satisfied but I do not speak for Wah Nam, nor have I been appointed by them. I have been with the Company since July 2005, which is long before it became Brockman.
1. What are the intentions of Wan Nam International ?
The intentions of Wah Nam are as they have previously to shareholders; that they will implement the next phase of development for Brockman, including the completion of the Project Execution Strategy, rail and port solutions, Bankable Feasibility Study and project funding. Since exercising control of the Board in September, they have commenced a strategic review of all aspects of the Company’s operations. Subject to the outcome of this review, the objective is to have debt funding in place and a Final Investment Decision next year, leading to project construction and the commencement of iron ore production.
2. Are Wan Nam credible in light of Mr Luk’s recent engagement with the HK Independent Commission Against Corruption ?
That would be my opinion only and one that you would be competent in making. Brockman does not know anything other than what Wah Nam released in its announcement regarding the matter.
3. Wayne Richards continually stated that he would see through to Production; he is now a very wealthy man looking for a new job. Does Brockman see this as acceptable behaviour ?
Again, I think you would be competent in making this judgment call.
4. What is being done with the current share price manipulation in order to restore real shareholder value ? It seems that the shareholders are not a priority here and absolutely nothing is being communicated to restore confidence. It really is a dreadful situation.
Brockman is continuing to proceed to finalisation of the FEED study in a very difficult environment. The quarterly will be out by the end of the month.
5. Most recent announcements are repeating the same activities regarding Rail. This has been going on for too long now. What is the real , truthful situation regarding Rail ? Is it still in these “advanced negotiations” and if so when is a conclusion expected ? Is it being held back in order to satisfy pricing strategies of the stock so that Wan Nam can continue to acquire stock at a cheap price ?
There are many factors involved in the negotiation and at present it is still continuing.
Kind regards
BRM Price at posting:
$1.68 Sentiment: Hold Disclosure: Held
