Ann: Bidder's Statement despatched to Brockma, page-7

re: Ann: Bidder's Statement despatched to... Is this right?

If I bought all BRM shares at current price it would cost me $317m and I would get 100 % of the iron ore resource.

If I bought all WNI shares at current price it would cost me $375m and I would get (?) 50-60 % of the iron ore resource.

So discounting the enormous value in the WNI taxi operation their price really should be about half what it is now, using BRM as the gauge?