Ann: Ramelius makes recommended takeover offer for Breaker Res NL, page-68

1. $300m? Sounds a fair bit more than what I had assumed but I guess with lower grades to work with they will need a sizeable plant. That, together with the $150m to prolong the life of Edna May, adds up to a chunk of committent in the next few years. Sort of takes away how much could be committed to that third hub Ramelius drones on about.

2. I see a comment that hauling ore between Rebecca and Lake Roe - not sure where they will build the mill - is no real issue as it is only 50 km or so between the two. That leads on to Gascoyne's Dalgaranga mill being only 65 km from Mt Magnet. Why would Ramelius look to expand its old Checkers mill when it could acquire the relatively new Dalgaranga mill at half price and have the very high grade Never Never deposit thrown in for free (though I think Gascoyne's new cornerstone investor, Tembo, is effectively a poison pill).

3. FWIW, interesting muddle of names. The Ramelius project is named Rebecca, not Lake Rebecca (it is physically next to Lake Rebecca but not in or on it and it is not called that). The Ramelius project is made up of the Rebecca, the Duke and the Duchess deposits, so Rebecca is the name of both the main deposit and the project.

It is Bulletin Resources that has the project called Lake Rebecca. https://www.bulletinresources.com/projects/projects-1/

The Rebecca deposit was previously known as the Bombora deposit which of course is now the name used for the main deposit at Breaker Resources' Lake Roe project.

https://www.rameliusresources.com.au/rebecca-gold-project/

https://www.breakerresources.com.au/project/lake-roe-gold-project/

Maybe Ramelius should mop up the Lake Rebecca ground from Bulletin Resources as Bulletin seems more focused on its lithium potential down near Allkem's Mt Cattlin mine.