wr pockets a lazy $1m, page-16

What a bizarre afternoon of announcements.

The initial announcement of WRs $1m selling bonanza fired up the sceptic in me to question all remaining factors of the BRM puzzle. Is rail no chance? Is the port PFS casting doubt on the ports merit or the ability of the NWIOA to fund it? etc etc.

Then WNH release details of large on market purchasing and increased stake in BRM to over 15%.

Although I dont understand the significance of these announcements and the significance of their timing, it made me research recent director selling. The last such disposal was between the 10th-16th of Sept 09 by Ross Norgard to meet his pension payment requirements. 711,067 shares were disposed at the average price of $1.691 Within 1 month BRMs SP was over $2 and currently 5 months later is just under double the disposal price! No impact!
The last time WR disposed of shares was between the 26th-27th March 09. As stated it was because " Mr Richards wife has disposed of a small portion of her holding in Brockman to meet personal financial commitments." 150,000 shares were disposed at an average price of approx $1.21 Its very interesting to note that although the SP didn't tank at all, for the following 4 months BRM traded between the $1 to $1.40 range. Neither positive or negative impact.

I guess 4 months trading around the $3+ levels would be fine by most of us but it certainly raises my eyebrows. I dont believe WR would sell any shares if a rail deal were imminent as Pezza87 wanted us to believe.

WNH on the other hand still see value over $3. This is a huge positive and one in which I think the broader market will embrace. I will be interested to see which way this goes ST.

As always, good luck all