Firstly, there is a current ASIC investigation with evidence showing a total of 9 shareholders based in either Hong Kong or Singapore with links to WNI supporting all of the increase in WNI's shareholding from 22 to 52%. Wait for an outcome here. Then there is the next step of going back to the Takeovers panel with the evidence gathered first with ASIC. Then there is a possibility of a ruling that WNI have to sell the shares they have illegally accumulated. BRM then goes full steam ahead.BRM on the cusp of becoming a producer and the share price about to be rerated once rail deal delivered.
If all that fails. There is a 52% holder who wants a bigger holding. Management holds10% so the 90% will be out of reach because long term holders have no intention of selling to them.
Production is the focus.
BRM Price at posting:
$4.48 Sentiment: Buy Disclosure: Held
