this is serious lets hope, page-53

how likely are BHP or RIO to want to fluff around with "controlling" a $150m Co. Why wouldn't they go the other $100m and just take the lot.

Unless there are political issues at play here... like proving they are open to open access but only where they control the producing assets in question.

Either way you'd hope they are the party with their foot on the throat of the SP and they finally let it rise.
But then they'll only want to come back at a later date and complete the TO. So why not just do it now.

$9.50 sounds fair. lol