Starting a thread on this important dimension to SFR's future.
It owns two quality mining complexes and would dearly love a third to strengthen and balance the business.
Evolution Mining has bought 80% of Northparkes Cu Au mine from China Molybdenum Company for $720m.
The AFR notes SFR was also a bidder: "Evolution defeated Bill Beament and Nev Power’s Metals Acquisition Corp to secure Northparkes, with ASX-listed copper plays Sandfire and Aeris among those that cast an eye over the mine."
SFR was likely a tyre-kicker at this sale. It has debt to repay and a significant capex pipeline, but do not doubt the aggression of BH & team and their ambition to build it into a globally-significant Cu mining enterprise.
This could go the other way, of course. For example, SFR would fold seamlessly into S32 or any number of other big miners.
Watch this space.
Ash
SFR Price at posting:
$6.17 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)