if the BRM management at that time had said the valuation was right but reject the scrip, then many of us probably would have sold on market at $6. Instead we were told that it undervalued the company and it was worth far more than $6.50 and to hold out. I believe management also lied about the FMG rail deal. The management actively brought Wah Nam on board and screwed shareholders good and proper. This latest betrayal really shows how unethical and incompetent the BRM management really was.
If I can salvage $3 cash value out of this mess I'll be relieved. I'll definitely start putting my money into things that the Chinese can't take ownership of (our 4 big banks) or resource juniors who haven't yet been infiltrated.
BRM Price at posting:
$2.25 Sentiment: None Disclosure: Held
