Ann: Share Divestment (GL1), page-9

If MinRes are happy to buy GL1 shares at these prices, it implies they think the company is "fair value" at ~$500M market cap. If you have a rough stab and say 3/5ths of GL1 value is their 80% interest in Manna (it looks a better deposit than Marble Bar, has clearly become their key focus), then that values 80% of Manna at ~$300M. That would mean BRB's remaining 20% is worth ~$75M. Add to that the further $20M of potential cash payments tied to owning that 20% stake = ~$95M. Very rudimentary analysis, but gives a ballpark figure consistent with musings from other posters that BRB is in "negative EV territory" and "the gold deposit is free" etc.