CGG measured and indicated copper 687kt SFR indicated and inferred copper 600kt
CGG has 70% ownership, but is paying $115m for 100% ownership.
So, yes, SFR is a little expensive, because a t/o premium of 20% would make it a $1.2B t/o (same as CGG) for a smaller resource. But the difference is not much. (As OZL holds 20%, we would only need to purchase $800m, or $960m with a premium. (In that respect SFR is cheaper than CGG).
So, in answer to the ?, the data would suggest no (based on the CGG/EQN transaction.
HT1
OZL Price at posting:
$15.80 Sentiment: LT Buy Disclosure: Held