Well, for BRB holders, understandable they want more hence many...

Well, for BRB holders, understandable they want more hence many claim "low balled". The things is that even the BRB board unamiously recommended as well as the major holders. What constitutes the value of a project are from many factors, particularly the expensive costs in OZ. Some projects may not be profitable without scale, hence the value of synergy.

RMS has 6Moz + resources, is an established profitable producer. Now, BRB is valued as just under 1/3 of RMS, what to complain? And for those complain "low balled", ask yourselves, BRB SP has been in much lower prices most of the time in past 12 months, have you added your investiment in it? Even in the past 1 month, it was significantly lower than 40c, should be compelling to buy according to your valuation.

At the end of the day, there is never a "fair" valuation/ trade to suit everyone. The bottom line is that, RMS saves the BRB holders from the risk of development and execution. As an RMS holder, I don't feel overly excited with such TO at all. After all, it's 1/4 + dilution for partial inputs to build a 3rd mining centre.