midwest implications for brm

I first looked at Midwest in early 2005, trading in the low 40s. I traded in & out a few times. This was before the Sino JV was announced, and before the Iron Ore market really took off. It was a good trader for me. On the back of the announcement of the JV it jumped to 60c or so & I happily closed my position and moved on.

Of course history showed I could have stayed in and got $6+ with the takeover. However although I knew a lot less about the I/O market than what I know now, there were a couple of things that bothered me. 1. Jack's Weld etc. was largely a magnetite play; and 2. Rail and Port worries. These are the issues that have never really left.

To cut a long story short I was looking for a potentially large hematite deposit close to associated infrastructure, and in Yilgarn Mining (now BRM) I found that in spades.

I suspect today's sell down of BRM may be related to concerns about Sino-Midwest. However BRM still possesses what Sino Midwest never did; hematite or and proximity to established infrastructure. I really don't know what the hell is going on with WNI, but they are on a winning asset witht he right ore and right address -it's actually very rare to find this right combination - if they cannot convert this they should have not got into the game.