SFR appears to have paid $US1.5m in cash and about $US1.79m in SFR shares. These amounts are not material to SFR and would not have warranted separate announcement. An additional up to $US80m would be payable if commercial Cu is found on the licences.
SFR appears to have undertaken to spend $US4m on airborne EM and soil sampling.
A miner with a mine in development would look closely at acquiring nearby exploration licences, if only to 'sterilise' the neighbourhood. We retail holders cannot know whether there is anything down there, though the terms outlined suggest not.
Ash
SFR Price at posting:
$6.29 Sentiment: Buy Disclosure: Held
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