You have to wonder WHY is it that WNI has over 80% of BRM yet their share price on both the ASX and HK exchange is trading at multi year lows?
Is it because of all the paper they are printing? Destroying shareholder value through pulp.
The convertible note issue to Ocean Line and more development of BRM's projects, there are sure to be many, many more shares to come :/
If Ocean Line take up the full CB issue, WNI will have 6,334,279,403 shares on issue ( assuming they don't dish out a few more between now and then )
wow...that's some big numbers.
Dunno if I'm right or wrong here but if you x that by the current sp you get a Mkt cap of $329,382,529 vs WNI's current Mkt cap of $342Mil. See...wealth destruction :)
( I've probably stuffed that up but meh...... )
Oh...hang on...WNI is be able to advance things if they get full control and the sp will improve won't it?..... :/
BRM Price at posting:
$2.48 Sentiment: Buy Disclosure: Held
