You'd have to think that 50c/tonne would not be unreasonable (ie less than half the value that BHP just paid for UMC).. that values BRM at about $3.70/share for the ore (DSO equiv) and another 70c for the cash. So make that $4.40 (if you dare to dream).
I think that is conservative as it doesn't take into account the additional resource at Marillana or any of the other resources across all their additional tenements.
Of course DYOR
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