SFR is due repricing. BH & team exhibit the radiant qualities seen at S32 and OZL.
Many considered SFR over-paid for Matsa at $US1.865m. Not anymore. A year of solid production, a JORC, drill targets, efficiencies and talk of enlargement. All incremental, worthwhile. I can comfortably value it at cost.
Khoemacau transacting at $US1.5-3b obliges a re-measuring of Motheo to market. Its plant, permits, production and ore assets can be valued - including the unmeasurable Botswana Africa discount. What if this valued Motheo at $US1.5b (choose your own number).
Matsa. 1.865 Motheo 1.500 _________________
3.365
less debt 500 _________________
$US2.865m or $A4,425m
================
MC today $A3.056m
Ash
SFR Price at posting:
$6.73 Sentiment: Buy Disclosure: Held
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