Given that we have already established that nothing is beyond these guys and that they are well advised by an Australian who knows the system intimately the next move is hard to predict.
Would they stoop low enough to sack the Board, install their own, then dilute us to Kingdom Come by issuing cheap stock to their "friends"? Yes I think it's possible.
But such an action ramps up the attention their behaviour is likely to get from our regulators, but given their track record I wouldn't hang my hopes on them.
If Wah Nam want a swift and inconspicuous conclusion to "The Swindle" and I was advising them, I'd be telling them to offer $6.50 and try their luck.. I won't bite, but I reckon they might get enough to achieve their goal.
Given their average price to get this far is likely north of $6, it would still be the bargain of the century.
BRM Price at posting:
$4.48 Sentiment: None Disclosure: Held
