This could fall over yet Wrong. What is now emerging is that Ramelius has designs on siting the processing centre on the mining leases at BRB's Lake Roe project. That is logical since it has the bigger and higher grade resource than the RMS Rebecca deposit.All that will be needed to bring the 4Mtpa processing centre to reality is a minimum of $200m ..perhaps $250m.Breaker shareholders will be called upon to find another $200m in capital ..to allow for contingencies.The sad reality for the greedy BRB holdouts is that the 2 major BRB shareholders have cast their lot in with Ramelius and with that the control of Breaker.One day soon Ramelius will declare their bid unconditional and bring the present 33% of acceptances onto the RMS share register. The BRB board will promptly invite a number of Ramelius representatives onto the BRB board and soon enough the BRB board will make preparations for a capital raising sufficient to bring Lake Roe into production.Ramelius will underwrite the ( first) BRB offer which I suggest will be for a minimum of $100m.I anticipate subsequent capital raisings in Breaker to fully fund Lake Roe with equity capital. The holdouts, the three that remain, will welcome the opportunity to maintain their pitiful equity in Breaker Resources,now that it is finally moving to develop its main asset. Eventually, Ramelius will propose to Breaker Resources some form of joint venture to enable the processing of Rebecca ore at the Lake Roe mill.
BRB Price at posting:
47.5¢ Sentiment: None Disclosure: Not Held
