Hi all, I just can't understand the timing of this issue, BRM...

Hi all, I just can't understand the timing of this issue, BRM and Patterson's have stated that the "detrital ore is upgradeable to +59.5%" we all know that. BRM have $8m in the bank, enough to pay lab testing obviously. So why not have the share placement after the positive lab results are out and the have confirmed to the market (yes its ALL salable) and why hasn't the market included it (detrital) in the S.P (market cap).
I must admit the placement seem opportunistic (the Iron Ore sector is flavor of the month, AGO just had a successful placement)you can understand BRM cashing in while they can but 45m new shares equals a 50% dilution, If BRM confirmed saleability of all the ore, I'm sure you could issue half that many shares for the same capital injection. Wayne was talked about maintaining a tight registry, and avoiding over dilution. What happened?
Expressions of interest close 10am tomorrow, I hear the placement was well taken up today, price will be close to $2.60.