You're in Victoria that has only really had historical mining compared to the rest of Australia and particularly WA.
Your family owns a large freehold broadacre farm. It has likely been passed down generations and your kids and their grandkids are still involved in farming. The farm provides the family, who have only ever done farming, an income source. They know the property like the back of their hand.
Then one day an exploration permit is granted over your neighbour's land. When you catch up they grumble about it being a nuisance and an intrusion but you both know there isn't much you can do. That company spends a few years on the property and eventually sinks a hole that uncovers phenomenal potential.
Fortunately for you, the strike extends into your property. The company wants unfettered access.
Do you:
a) roll over and take the first offer and hope that your family can slot into new careers, b) hold out for as long as possible and ilk the maximum dollar benefit, knowing that you'll forgo any future land value increases, any future revenue generated from farming that particular land but potentially have enough funds to fund a new business or your remaining life/lifestyle...
It has to be a win/win for all parties. It will likely cost SVY a lot but that is the commercial reality. There is millions in the ground.
SVY Price at posting:
59.5¢ Sentiment: Buy Disclosure: Held
