"The current posts talk about ozl taking out sfr before sfr gets...

"The current posts talk about ozl taking out sfr before sfr gets a chance to arrange finance and specify and commission production (in the next few months) my view is that this scenario would be nice but we're talking perfect world and also that ozl would be buying at or near the top of the market"

Which is why a share/cash offer is the preferred way to go. In 2011 SFR share price has dropped nearly 25% and OZL's around 16%. So the top of the market is finito..... and whatever t/o price SFR shareholders were dreaming of even a week ago no longer applies. Right now cash is king as much as ever. They would need to decide to sell on market or accept part cash and a continued ride on Degrussa with an operator which does not need to borrow or cut corners especially if a downturn occurs.

OZL should offer $4 cash and 3 OZL share for each SFR and go straight in for the kill. Right now that represents about a 33% takeover premium and ought to be snapped up very quickly.