Whether SFR is a target for OZL is one thing, but I highly doubt...

Whether SFR is a target for OZL is one thing, but I highly doubt OZL would be interested in RXM, due to it being far away from production something like after 2016 and the fact on the pre-feas indicating a very high capex and very high cash costs due to a very low grade production. Definitely not on OZL's books.

Despite, Terry Burgess claiming SFR is in the eyes of OZL, does not mean its not a takeover target from OZL.

Which company would say they intend to takeover a target company, without making a bid? None.

Its like WSA previously indicating so many times that they don't intend to bought the remaining interest of Lizard Lounge off KZL in the media. Eventually they ended up buying it.

But with the current state of SFR, everything meets OZL's criteria for a target. THE ONLY STICKING POINT IS PRICE. OZL is a traditionally a tight-a$$ company. At the current share price, this reflects the true value and strong fundamentals of SFR at around $1.2b, OZL will need to offer SFR over $1.5b for any success, thats when the tight-a$$ part of OZL shows, hence they can't strike a deal, while just sitting on cash and a depleting mine.

Even the massive falls of IVA, I think IVA is more of a target for OZL, at the same time with a RIO-controlled Ivanhoe Mines is undergoing restructure. To me RIO only wants the Oyu Tolgoi base metals mine. Thus Ivanhoe offloading their 58% stake in SouthGobi Resources to Chalco (part of Chinalco) is a first step.

I'm very sure that RIO would try to offload the 58% stake in IVA from Ivanhoe Mines to any buyer. OZL could be one.

The only flaw with IVA is again poor cash costs with their operations compared with SFR. But IVA compared with RXM, is better, at least they have commenced production, whereas RXM is likely 4 years away.

No doubt, its very hard to find an attractive target for OZL, no doubt, SFR is the best and safest choice. Unless Burgess really wants the Romanian copper company, unfortunately Terry cannot be tight and offer the $250m like what the Romanian Govt wants.