Ann: Sandfire Announces Entitlement Offer, page-7

will watch for other comments here. Ironically, I was thinking w the OZ takeout who would go after SFR. With them rationalizing the portfolio a little cancelling the JV agreement near Degrussa I thought a clean up was in progress. Possibly for a bidder.
Maybe Grupo Mexico, the large MX which controls SCCO, the 1mil/ton mostly Peru/MX copper co w some ops in Arizona. FCX was sniffing around their AZ smelter ops. Buying SFR would give SCCO ops in Peru, MX, US, Spain, Botswana w concessions in AUS. It would be an easy swallow for Grupo Mex. which has low debt, large cash and strong credit. GMEX was one of the co's that sniffed around MATSA before SFR bot it. Why not w all that goes on in Peru!

Now who knows...the co is telling us it is worth $4.30AUS. That is about 2.90US. That is around my basis.
I really like the new CEO..w his background as a CFO he may sense the importance to clear debt as rates continue to march higher. in the US today, there was talk of a 5-7% FED Funds rate which whacked Cu and other commodities.

Guess I am thinking outloud. Long GMEX full disclosure, about 1/5 my SFR position which I recently trimmed at US 3.05 in the rally on trading shares only, keeping my core position. But I am not sure now. Will let this settle in and see what other smart folks here think. a curve ball imo...long term thesis is intact...price could be anchored a while.

maybe a hostile bid comes in now or once this finishes. you never know what Forrest or others will do as the world jockeys for Cu assets!! GLTA, Bea.