My point is that it is all about 'fair value' for the company...

My point is that it is all about 'fair value' for the company with the desired assets and mitigation risk for the acquirer.

If you and everyone else on the market can see a value closer to 400 to 500 million with no value given to the North Scamander’s (NS) polymetallic discovery (1,035 g/t Ag, 5.75% Sn, 27.6% Zn, 21.2% Pb and 1,070 g/t Indium – Indium results alone are world class with a potential for a Tin or copper dominate system) then, SRZ is currently very much under valued.

The problem for anyone entertaining what a fair value might be for SRZ is that it keeps moving the goal posts. This is evident in SRZ's fantastic last quarter results where it made the NS discovery and continued work at Heemskirk with an imminent Mineral Resource Estimate update. Also, it has enough funds to announce new drill targets for the next drilling program at NS and Heemskirk. Therefore, I’d suggest any aggressive TO launch will be fraught with danger given how long it takes to follow it through. However, a buy-in or JV would be more plausible.

The smart money is here because it has already identified that SRZ has been beaten down and has an overlooked asset in Tin— the forgotten metal of the ‘electrification-of-everything’ global thematic. As I stated above, Tin is 30 times rarer that copper, stockpiles barely exist, 80% is dirty-sourced material from basket case jurisdictions and there's been bugger all exploration and investment in new projects over the last twenty years, so therefore, Tin is squeezed like no other metal in history.

Whatever occurs, it seems like the most exciting times are just around the corner.

AIMO, DYOR, GLTA(patient)H