Having read this article in the Aussie today I feel quite deflated at the prospects of ASIC actually doing anything successfully against Wah Nam, even if they try to.
Having sat on my BRM shares for so long now, with some bought around the current price pre GFC, some picked up around the 50c mark post GFC and then even much topping up when many of us were riding the price way up through the 3's, 4's, 5's and some buying even close to the peak over $6, I'm sitting on an average buy price of just over the current price. To ponder letting my shares go at this price and after all the WN BS of the last 12 months would be devastating. When I compare reality with my high hopes for holding shares in a good Aussie based iron ore producer by 2013 with it's BFS said to be on the way according to Board room radio interviews, and then such good prospects beyond 2013 when we could have seen revenue pouring in from many millions of tonnes of IO shipped via the Wayne Richards promised rail solution up to the NWIOA port and off to those wonderful Chinese consumers. How depressing the current real situation seems by contrast. What to do? Just capitulate and sell? Wait to be "compulsorily acquired? All bad choices. My ex and I broke up when the BRM share price was $6 and I thought she was crazy for selling her half immediately for that price. I suppose a time machine to go back to those $6 days and bail is all I really need. Anyone got one for rent. Sheldon, Leonard, where are you?
BRM Price at posting:
$2.40 Sentiment: Hold Disclosure: Held