announcement out, page-9

Don't know why people are so down on the placement.

BRM is still a speccie if the truth be known and raising $112M by the placement will help it move beyond the realm of being just a speccie to a producer.

No point having ore in the ground if you can't get it out.

The placement at $2.50 was a good result I thought as it was not a case of someone desperately wanting to take a stake at a premium to the then existing price.

Yes the price has fallen since the placement, but so has Wall St. and the All ords so who is to say that without the placement that BRM would not have fallen to this level or even further.

I think that the 4112M goes a long way to backing the credibility of the company, so I was more than happy to be able to add today at less than the placement price.