straight to stage 2, page-12

If nothing else it preserves cash burn and as such I see that the SP could potentially rise.

BRM is a classic T/O target now. $3 would clinch it with almost all shareholders agreeing. Think of it this way.

$3 gets you an asset at a real price of $2.20 (discounting for cash) which in US$ is actually more like $1.50 ... or effectively half the price the SP was back in March. To many overseas investors this is bargain basement for a potential 25MTPA operation. Port is guaranteed, and the size of the resource could even justify its own rail.

I think that the announcement has effectively nailed the "for sale" sign up.