Eagle I take your point, but BRM's inability to do a deal of any...

Eagle I take your point, but BRM's inability to do a deal of any shade is a real concern to me. Essentially they used the financial crisis as an excuse to pull out of stage 1, when in reality they had neither rail nor offtake in place, when they were previously giving the impression that negotitaitons we progressing. They would have failed in their deadline at the end of CY '08 to have rail & offtake in place irrespective of the health of financial markets.

Other I/O juniors seem to be able to do deals on offtake & rail in this environment - eg Atlas..and yesterday there was Centrex metals announcing a JV with Wuhan.

It beggars belief that we can't broker an agreement with FMG in the context of their now significant idle capacity and debt concerns...coming on top of Wayne Swan's pronoucement on 3rd party rail access.

In addition I have a concern as to why further sampling results have not been released.

And yes, I have been on about this like a broken record.

If management does not want to be held to account to their deadlines, and thinks they can change them at will, then there is nothing to suggest the goalposts for stage 2 will not be altered singfnicantly, if it looks like management is going to fail again against the benchmarks it sets for itself and relays to the market.

You think I'm hard...but why is the share price down in the cellar, way under cash backing and seems to be staying there?

You have to try pretty hard to mess up 1 billion tonnes of haematite real estate, but we are not progressing - management by their plan of inaction for the next few years underscores that BRM will be at risk of mistiming the market again - we need a new MD imho - WR has had 18 months - and not one deal.