Hey Joel, yep very possible perhaps even likely at this stage, especially when we both know that quality projects that are development ready (in SPRs case quite literally) not held by either a major or overseas company.
Not sure if you saw my post on the RMS threads? Just pondered why RMS moved when it did (all speculation of course)
SPR and RMS... why now?Obviously, everyone but RMS would prefer a bidding war, but MZ at RMS has a crafty team and with another director 'leaving', who also happens to be the largest shareholder in SPR (below is the most up to date list, which is not diluted by the most recent raising), with RMS close behind.
After the raising SPR has apprxo 1.103b shares.
Tembo now hold 9.99% (hmm.... an interesting size which... if potentially acquired by RMS would put them very close to 19.99%.
Delphi, if they have not sold down at all, should hold around 12.3% (which again, is a healthy position and either a good blocking stake, or a nice block of shares for an potential acquirer).
I can only assume that with Mr Plag leaving (who represents Delphi) and who did indeed join after the recapitalisation.
So... the major holders are: (total 36.4%)
Delphi 12.3% (director representing them on the board just left)
Tembo 9.99% (director representing them on the board left in March 2024)
RMS 8.92% (just bought in)
1832 5.16% (entered via a raising last year)
The more I go through the announcements, the more I come to conclude that timing is a key ingredient for RMS.... when major holders suddenly show their hand and openly admit they have a price target in mind... a potential acquirer would be crazy not to take advantage of that (imagine in SPR were to have suddenly found a sister to Never Never, Tembo and Delphi might have quickly changed to 'Diamond hands', and I suppose, still could, but that is at the whim of the drill bit).
As for other potential suitors, a great list, though potentially I would add on GMD (long shot, but they have been blunted by SLR), EMR (they are moving very slowly with their current Australian asset), but other than that, I feel overseas entities with USD to spend might be the biggest threat to RMS.
@Ironman2020 - keep the puns coming, they rarely get used in my household any more (though I have not totally given up)
If I can be blunt, RMS already have a heck of a lot of ore (potentailly 37mt currently they can mine, it would take them 20 years to process it all), let alone brining more ore from Dalgaranga). I have postulated on the RMS threads, that there are serious synergies to be had with a tie up with RMS, especially if Dalgaranga did not get throttled back (RMS have been looking at expanding their mill for many years now.......).
I also don't give any credence to moving the plant to Rebecca, especially when RMS has been dragging their feet on the asset since acquiring it. My guess is they have another plan for it (the MoM team have discussed it at length), and that won't require a plant.
I don't want to get ahead of myself, but if SPR keeps performing well, I might splurge on another box of Maltesers (and yes, if I can, join the $1 catchup).
Good luck to all holders.
@jbad94 - you ok? I can imagine the enormity of your success has perhaps given you pause?
(20min delay)