BMM must be smelling an opportunity by now. A cash bid at 6.0c...

BMM must be smelling an opportunity by now.
A cash bid at 6.0c again?
Forrest and BMM havent spent all their bullets.

BMM were going to spend 1.1B x 6c = A$66M but only spent $26M. thats $40M under budget
Forrest was going to spend 1.5B x 5c = A$75M but only spent $20M thats $75M under budget

Black Mountain pays $15m to recharge Lanfranchi nickel | The West ...

https://thewest.com.au/.../black-mountain-pays-15m-to-recharge-lanfranchi-nickel-ng-...

Sep 12, 2018 - 13 Sep 2018 -

Instead BMM spent $15M on stranded PANs Lanfranchi with no processing plant access
Instead Forrest spent $15M buying FMG stock on market at 4 year lows

So Forrest still has $40M powder left and BMM have $25M left unspent.
6c at 2.1B shares = $126M

BMM can only process nickel ore from Lanfranchi at either BHPs closed Kambalda plant 50km north, or the closed POS lake johnston plant 100km south west or the closed POS black swan plant 100km north.
BMM may want POS plants to toll its ore especially if they are not in use,
What was the point in BMM buying stranded Lanfranchi if it cannot be processed & turned into revenue?
They wont build their own plant costing $250M like SIR/IGO did.
And BHP cant be muscled into re-opening Kambalda without PAN or MCR ore feed also so they can ignore BMMs requests to process or charge a tolling higher price.

Hmm, $250M v $126M v $25M
Seems pretty attractive to me which one BMM is sizing up to spend on.

TO bid by BMM increasingly likely the longer POS stays down here below 6c.