Received a reply from ASIC today stating that they will not...

Received a reply from ASIC today stating that they will not conment on operational matters. Refers to a complaint that was made early APRIL concerning share price manipulation. Does this mean that they are still investigating the matter or does WN/BRM remain an on-going investigation. For those interested, their policy and reasons are here:

http://asic.gov.au/asic/pdflib.nsf/LookupByFileName/INFO_152_Public_Comment.pdf/$file/INFO_152_Public_Comment.pdf

ASIC maybe waiting for the whole affair to play out to determine how much Minority Shareholders have been disadvantaged before laying charges. A couple of the Lawyers stated that sometimes this is the best strategy before commencing class action that way you know exactly what the losses are. If we were to be succesful IMO WN could be sued for hundreds of milliams of dollars and would be wiped out. "Sent back to Hong Kong in a rickshaw"

Also have an outstanding matters with ASX re the letters concerning the delisting of BRM. Have been advised that matter is still with the Listings Advisor who is constructing a reply for what it is worth.

Nothing new to report on the class action front. Awaiting replies from a couple of legal firms however will chase them up tomorrow.