trading halt, page-48

First thing I would do as management here is get the halt in place (done - assuming it is for Opes). Call the lawyers and accountants in on the spot instantly and say right guys and girls I want the options on the table by tonight.

Pro's/con's/issues/process requirements/timings etc. Make a plan and execute it. This is an opportunity for them to show shareholders they are on the button.

Two ways to look at the delay in reacting - maybe they needed to let the sp slide so the ANZ start going shhheeeite we are going to struggle to get a price here. In walks BMN with the emergency buy back and placement option. Possible.

Much depends on how many shares we are talking about as to what course of action is truly feasible in terms of cost and process. Without knowing the full details - a buy back and placement option if it were feasible has a number of positive outcomes:

1. it demonstrates decisive management in solving and addressing the problem at hand

2. reinforces to the market the value of BMN stock

3. potentially gives those who missed out on the Canadian placement a piece of the action

4. gives ANZ a better price than they might get on the market.

5. it stops a wholesale short term slide in the sp.

Interesting to see where they go with this.