Sensibility is indeed a rarity in the World that is Hotcopper...

Sensibility is indeed a rarity in the World that is Hotcopper ļ
A quality which you exuded in spades with that recent post, and grabbed my attention.
An additional driblet of information that you could add to your analysis, is the landlocked position of the mine against the powers of BHP, RIO and FMG. One could only surmise them taking a very hard look at the BRM, and say why not? They have everything in place, and the shareholder base seems quite dispersed.
Your target of $4.80 translating from margins of 80c translating is conservative, dare say even discounted for time. But that is from BRM¡¦s capabilities. From BHP, and alike, you¡¦d be looking at multiples of that.
I can imagine the smooth courting calls, the roses, quality chocolates, lavish dinner dates that Mr Richards will be spoilt for choice, although he did already have priors with BHP and Andrew... Or maybe he feels like Dim Sum?
The big boys will do whatever they can to suppress happy positive feelings, by spreading any negative biases to protect their interest, and I feel for long term holders, until one of them has filled their boots, but that¡¦s the way business operates.
Either way in Summary, BRM is worth alot more to them than you and me, and more so to other myopic HC punters. Normally I shy away from plays like this, but not this time, the faith of BRM seems sealed for stardom, or to be robbed of its shining properties and be swallowed by an ugly black hole (morphed into greenbacks of course).
Dare I say, look past what they throw at you today, I for one will, Interesting times ahead.

Thanks for the post again mate.