$4 is more than what Flannagan would pay I reckon. But are Wah...

$4 is more than what Flannagan would pay I reckon. But are Wah Nam buyers or sellers...?

If they are buyers then there is no way the Sham would announce a rail deal ... best to paint a grim picture of the future before you attempt to mop up.

re your last point

"I wonder what it would take for a class action to be launched against management for misleading shareholders with the so called rail deal?"

Maybe not so pie in the sky... to announce "advanced negotiations" last year when clearly that was false was at best incompetent and at worst misleading.

Even as recently as July this year:

"Sitting in his Perth boardroom, Richards is visibly frustrated by perceptions that Brockman's Marillana project is a stranded asset without a partner to go to port with.

He says work to find a solution to the project's transport needs is well advanced.

'The bankable feasibility study will be completed in September or October this year,' he said.

While many attributed last week's share price dive to the "stranded asset" theory, Richards is not convinced. 'Any belief that we were becoming 'left out in the cold' was nonsense,'' he said. 'Our intelligence from funds, brokers and insto's was that it was just end-of-financial-year sell-downs, most people are waiting to see our rail or port solution."

Read more: http://www.theage.com.au/business/brockman-turns-focus-to-new-horizons-20110703-1gx8h.html#ixzz1YYytCEf2