OK but that chart doesn't tell the whole story.I've posted on...

OK but that chart doesn't tell the whole story.

I've posted on this before, but here is the ABC news item on it from May 2015

https://www.abc.net.au/news/2015-05-25/sirius-resources-in-wa-set-for-massive-takeover-bid/6495228

Aspiring West Australian nickel producer Sirius Resources is set to be to taken over for $1.8 billion. Under the deal, diversified miner Independence Group will acquire Sirius Resources for $4.38 per share, taking Independence's value to $2.7 billion. Independence Group currently produces gold, nickel and copper, zinc and silver from three mining operations in WA. Sirius Resources made headlines in 2012 when it discovered the high quality Nova nickel and copper deposit in the Fraser Range in WA's Goldfields.

Its shares soared, seeing the company's market value jump from less than $10 million to more than $600 million. The Nova mine is expected to be in production by late 2016, and is shaping up as one of the few new resources projects to be built in Australia as the mining boom fades. Sirius managing director Mark Bennett said the deal would create a leading diversified Australian mining company with a portfolio of base and precious metals assets. "The combination I think produces synergies, not just cost synergies relating to bringing two corporate entities together, but synergies as a result of complementary skill sets and capabilities all within one region," he said. "IGO provides the operational, exploration and marketing capability while Sirius provides project development and exploration capability."

Will that happen to AZS? AZS has other resources particularly in Mexico of gold and silver, and some Cu. Would a merger candidate be interested in that destination? Definitely maybe.

More importantly in Australia AZS has more tenements including gold that are part of the deal with Mark Creasy. So I don't see a merger taking place but obviously could be wrong. Possibly an asset sale.

Personally I'd be happy to see that, and keep my shares in AZS. So that AZS is cashed up and able to fully explore the heck out of the other tenements and maybe develop into a producer. Say half of the proceeds of a sale could be returned to shareholders as a return of capital in a one off special dividend, and the other kept for exploration and costs to bring the company to maturity. I've seen this model happen.

What needs to be remembered is Mark Creasy is a top partner to have. I also want the company to remain in Australian hands. An asset sale to mob like Independence Group might be a nice move.