Am I detecting a stronger sentiment that all is not rosy in the WahSham camp.
I'm not fully briefed on it's financing used to acquire it's 57+ % of BRM, tho do not it's proposals to fund it's mop up cash component by debt and dilution, suggest a critical path to full acquisition.
They have made a point about the need for 100% to progress the project, it appears they may have their eye's on our cash at bank of $37+mill.
I note BRM now state they have spent some $5.6 mill on exploration and evaluation for the quarter. my recall is one ann on 25th Jan for some 5000 metres of RC. and just a yawn for some specky results.
If i"m right these are dammed expensive holes, and the only exploration referred to since the June quarterly.
Importantly the longer we hold and grow our holding's we continue to stretch and squeeze the "sham". It appears clear that without "transactions unbecoming" we have "shambles".
I am prepared to contribute to a trust fund and suggest that any and all LT should do so. Perhaps on a holding basis. (1c per share) which in the overall scheme of things is irrelevant
Lets get some numbers, then we could brief the required law firm.
Motsa
BRM Price at posting:
$2.17 Sentiment: Buy Disclosure: Held
