why is ozl rising, page-8

I dont hold OZL at the moment but I hold SFR.
The PFS Capex is spot on the money because 1)SFR have firm committments from contractors at the prices submitted - contracts just have to be issued - 2)they have been very clear from day 1 that the PFS would be a quality document, the timeframe from PFS to BFS is only 2 months + the Capex is up from the consensus $270m (Bell Potter)many analysts were using 7 months ago - the $400m will be correct.
POSCO cannot sell their 17% stake in SFR to OZL without extending the offer to all SFR shareholders,once 20% is breached they can only buy 3% every 6 months without a bid.
Not released in the PFS but stated seperately by SFR is that they have received 38 financing proposals - most unsolicited - the bankers have lined up at the front door.
There were no suprises in the PFS - if you watched SFR closely all the info was available previous - HorseTrader1 read my SFR post last week where I pretty accurately stated what the financial metrics would be as unbelievable as they were and I was very close to actual.
Underground production is 18 months away but open pit (44,000T) and DSO production (44,000T) will commence in 9 months that is cashflow will start coming through in 10 months according to the plan.
Something else that may happen is that 1 of the current 6 deep diamond holes of 1400m - below the current conductors that remain open at depth may intersect significant additional mineralisation - SFR only needs 1 of these to come in and the SP will go through the roof.
SFR & POSCO are pretty close I think - they bought in originally at 40c (an 18 bagger to date)and have maintained their position via the several share issues at higher prices
I tend to agree with HT1 though - TB has been patient this far and guess he will continue to be - but that is the issue he faces, if SFR get 1 or 2 further massive hits OZL will not be able to afford SFR and I think it would be difficult for OZL to sell 18% of SFR to realise the profit - who would buy it?. On the flip side if OZL has no exploration success in the next 2 years, who will pay 10 times earnings for OZL on a remaining 6 year reserve?. Thats why he is paid the big bucks and he has done well for OZL shareholders so far, regardless of what he does I am sure he will continue to act in your best interests.