Yeh I was thinking MOL earlier could be a buyer, but I think its wiser for MOL to go for near development assets or assets in production than go for exploration projects. A good example as a target for MOL would be SXG (who is in the middle of a merger with PLY.
The Marda Gold project is ready to go, but just need funding of $25m for production to begin.
At one stage SXG was valued at $4m when it was 1c.
Given MOL is controlled by Hanlong, who knows what they are up to. I don't think they are as smart as their state-owned counterparts.
But if I was to run MOL, I will sell off Spinifex Cu-Mo mine and eye out on value-adding acquisitions that are near production OR return the capital to shareholders like what MMX did.
With regards to BRW, yes I'm quite curious who would buy out this junior. I do suspect its Exco Resources. Exco took out PLY's share of White Dam for around $1.75m, its just funny when you have a big company like SOL going for these little plays.
The SFR example, just have a look at SFR's experiences with WSR.
BRW Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held