I beleive that WNI is acting in concert with China Railway...

I beleive that WNI is acting in concert with China Railway Materials (CRM).

The concept of combining the Ferraus and Brockman and building a railway line to port would be theirs and fits in with the Chinese governents strategic plan to own Iron Ore mines in Australia.

I beleive once WNI finialise their takeover bid with just above 50% of the stock they will sell their stake to CRM for around $8 a share. They will make a 30% plus profit on the shares that were bought in the $6 range.

CRM will then offer the rest of the shareholders this price around $8 for the rest of the shares.

CRM will get hold of the company for a price a lot cheaper than if they had gone into the bid out in the open.