"The way the stake was acquired suggests it's too big - and strategically important - to sell on-market"
I failed getting into the brains trust , but from a lateral thinking perspective maybe RMS will sell part of its stake off market back to SPR at VWAP (so RMS books a nice profit ) SPR issues shares for some or all of the purchase who then on sells the stake to the mine suppliers as a trade for future services provided so reducing the need for a discounted placement that would rock the boat like what just happened to BGL . ?
Plenty of scenarios one of the good things about being a listed company .
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