spot on. only risk of getting lumbered with their worthless shares is if they get to 90.1% control and then mop up.
this is 100% impossible as the directors hold more than 10% and I am sure that amongst us here we hold a further few %.
only issue is that they install an incompetent management (or our current management walks) which is both unlikely.
The issue for me is if they do have control, how likely will FMG and others be willing to give us rail access? This is the number one issue for me.
WNH would have the most to lose by stuffing this up imo.
BRM will re-rate soon imo. continuous extensions must surely have a legal remedy along the lines of vexations takeover pursuits. Haven't found the clause in the corp law but I would be highly surprised that it does not exist.
remember - on BCI's multiple, we are worth $47.88 per share, and that is before the improvements to recoveries anounced in the quarterly. That is the power of a rail deal!!
BRM Price at posting:
$5.03 Sentiment: Buy Disclosure: Held
