Sandfire Resources America Inc, listed on the Toronto Ventures Exchange, holds Black Butte. SFR owns 86.9%.
Naturally, the price went ballistic on the Montana Supreme Court ruling in favour of Sandfire.
Source: stockhouse.com
Sandfire's America subsidiary is now priced by the market at $C255m, valuing outside interests at ~$C33m. ($A1 = $C.88c, so MC ~$A288m)
SFR has an abundance of better opportunities to spend capital on than buying minorities out at this time. Minorities may feel less bold when asked to pony up fresh capital for resource definition drilling, let alone mine construction.
Anyhoo, this says the Black Butte project is today worth $A288m. I had attached nil value to Black Butte as it was stalled by the courts on environmental grounds. Will Mr Market add $A250m (about 7.5%) to SFR's MC?
Ash
Sandfire Resources America Inc, listed on the Toronto Ventures...
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Last
$9.08 |
Change
0.010(0.11%) |
Mkt cap ! $4.152B | |||
| Open | High | Low | Value | Volume |
| $9.09 | $9.24 | $9.07 | $11.54M | 1.265M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6482 | $9.07 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.08 | 85682 | 5 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| SFR (ASX) Chart |