Wally, we are all angry. But we are stuck. Wah Nam is also stuck. I can't see a circuit breaker.
Wah Nam can't sell at this price and make a huge loss. After AGO taking over FRS, the value in BRM evaporated overnight.
The problem is NOT even that of making a loss in a firesale. The problem is there isn't a buyer even if the company is sold for a song.
The market still hasn't priced in a worst case scenario, that is we could lose the South West Creek allocations.
At the current sp, it's way too risky to buy. It is NOT cheap for a stock with stranded low (to appease some here I say low'er) quality ore and no infrastructure (rail or port).
BRM Price at posting:
$1.65 Sentiment: None Disclosure: Held
