Wayne Richards on Boardroom Radio.. "We will continue to work...

Wayne Richards on Boardroom Radio..

"We will continue to work and promote the company, going forward. We will aim to get fair value in the trading price of the shares. We look forward to striving to achieve the target share prices that are currently out there of $6.28 and $6.49 by Investec and Patterson's Securities, respectively.."

It seems to me it is in everybody's interest from this point forward, for the share price to increase substantially. I can't see any winners in the short term from any other option.

For BRM board members and employees, their current holdings of shares, and also BRM options via employment packages, will increase in value. They have a strong vested interest in seeing this happen and the most direct way they can ensure this is to progress the project and see that it stays on track and hits all targets.

Wah Nam has a strong vested interest in an increased BRM share price because of the direct flow-on effect to Wah Nam shares, particularly in advance of the future capital raisings through the issue of further Wah Nam shares as is likely to be approved at their next EGM.

Wah Nam also needs to regain some sense of credibility with other Pilbara based juniors that may well become its targets for expansion at a later stage. It can't afford to be seen by them as a destructive predator to be fought off at all costs. That view may well see some juniors seriously consider merging for survival by making their combined entities a little too large fpr Wah Nam to swallow easily.

Regardless of what their board recommends, FRS share holders are more likely to accept a Wah Nam offer if the value of the script increases as a consequence of an increased BRM share price. Further, their reservations about the impact of a takeover on their own share price may be reduced somewhat if they see BRM's share price recovering. Wah Nam should be keen to see this happen.

Bones131 will be delighted to see the BRM share price increase, for selfish, personal reasons to do with living a life of wild excess - eventually!

Other BRM shareholders will no doubt be happy to see the price recover to near the valuations WR mentioned (see above) as well.

I don't like what has happened, but I am relieved to see that the BRM board and Wah Nam seem to have reached agreement on the company's strategy for Marillana and also on the composition of the BRM board, without the departure of any key BRM personnel. I am happy to give the expanded board an opportunity to achieve their stated aims and generate an increase in shareholder value.

Come to think of it, apart from selling at the currently depressed price, I don't have another choice. I'm just kidding myself that I do, because I feel better that way.

Regards,
Bones