Wah Nam confirms Brockman talks

10/11/2011 - 10:44

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Wah Nam confirms Brockman talks

Hong Kong-based investment house Wah Nam Holdings has confirmed it is in discussions with Brockman Resources regarding a “potential transaction and co-operation”.

“These discussions are at a very preliminary stage and there is no assurance that this will result in any transaction,” Wah Nam said in a statement.

Wah Nam said any further announcements would be made in the event of any new developments.

Wah Nam, which holds a 53 stake in Brockman after launching a takeover offer in September, commissioned a review of the Perth-based iron ore junior’s operations earlier this month.

At the time, Brockman said it had pushed back a feasibility study for its Marillana iron ore development as a result of the review.

At 10:43AM (WST) Brockman’s stock was down 5.7 per cent, to $2.14.

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