sfr - new discovery, page-5

From today's AFR , p18 (I am manually typing this - so excuse spelling mistakes)

OZ's sandfire play pays off

SFR CEO Karl Simich described the $100m OZL paid for a 19% stake in his company as a bargain.

He may be right. A new discovery at SFR's Doogunna copper-Gold project north of Meekatharra triggered an 8% surge in the company's share price yesterday to $3.90 after the stock rallied as high as $4.01.

Oz paid about $3.85 a share for it's stake in SFR late last week meaning the miner's interst is already more than $600,000 in the black.

"The Doolgunna project is in the early stage of development, and while OZ is understandably not yet willing to bet the house on the exploration potential, it has a foot in the door of what is an increasingly rare high grade copper deposit" Macquarie said.

SFR's latest discovery highlights the Doolgunna project's prospectivity. It has been touted as one of the best discoveries in Aust in years with it's very high grades and attractive exploration upside. The discovery takes the number of separate deposits discovered at the project over the past 14 months to 4.

SFR releaesed a maidain resource .......

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It is nice to get some positive news in the paper. Will it make it harder for OZL to t/o SFR? The sp of SFR has been here before and has retreated back.

HT1