@hewi and others.This is not a normal takeover in that the major...

@hewi and others.

This is not a normal takeover in that the major asset here is the $80m cash. As we well know (courtesy of the Bond Corp / Bell saga), RMS can only touch that cash if it gets to 100% of BRB. Anything short of that and they control BRB but are stymied on doing what they are really wanting which is to have access to the resource and an easy top up of cash reserves.

So, if there are a group of BRB shareholders who speak for 10% or more and so "no way" on this lowball offer, RMS will be caught in no-mans land on the deal or have to up their offer.