Ann: First Ore Production at Thunderbird, page-28

I think whenever the price of something becomes so substantially disconnected from its true fundamental value it becomes a target (or in the case of Lithium stocks, when everyone starts getting very carried away with future blue sky).

In the case of SFX, as@Franpower has pointed out, the share price seems to have been 'fenced' in for quite some time which has resulted in a massive disconnect between the share price and fundamental share value. As a result, I think there would be a number of Private Equity groups keen to try steal the future cashflows that SFX will earn for the next four decades.

Similarly, it makes sense for a group like Base Minerals (BSE) who could also benefit from a new long-life operation in a more palatable jurisdiction than Madagascar/Tanzania/Kenya.

Iluka Resources (ILU) should have bought SFX via a scrip deal when their share price was $12.00, it's less attractive for them now at $7, but would give SFX holders some share price upside in the new entity if a bid was forthcoming.

Personally, I would prefer they don't take us over at this point as we have lots of share price catch-up to do first. In any case, the SFX register is pretty solid and the top 20 understand the true value proposition of their investment. Perhaps when SFX is $1.80+ a bid would have more prospect of being successful with shareholders.