sunday thoughts

Aside from a couple of articles few news houses have picked up the BRM story. Nothing surprises me about regulators and media working for national interest anymore.

However there a massive competitive implications for the iron ore sector and the Pilbara. Wah Nam and its backers, if they are able to construct rail will present a direct threat to mining margins of the majors, and thus the government's tax take on the mining boom for which it is almost wholly reliant on for its fiscal credibility.

Anyhow, as a BRM shareholder I don't mind being a part of that emerging China rail story. I think Wah Nam saw Australian regulators as being soft & weak....and took advantage of that. You can't blame Wah Nam for that.

However I will be damned if I will accept Wah Nam's worthless scrip. I would just say to Wah Nam don't treat Australian BRM shareholders with the rightful contempt you hold the regulators in. You will get further with BRM shareholders if you show us some respect...and that starts with a genuine offer of value for BRM shares.