Agree a great post by perdant.Another aspect of this bid is what...

Agree a great post by perdant.

Another aspect of this bid is what is disclosed via the bid itself. Yes, RMS wants the dirt, but it also wants the cash.

If they didn’t need the cash then we would have seen a deal something like “capital return of $0.20 per share plus 1 x RMS share for every 5.5 BRB shares”. Same value but far less dilutive to existing RMS shareholders. The fact that it is a 2.82 BRB for 1x RMS tells you that the cash is also an important component to help them make the whole Rebecca project work - otherwise if no BRB cash, they need to do a (probably even more dilutive) capital raise.

So that suggests to me that getting to 100% is also probably important so they can get their hands on the cash