Ann: Departure of CEO, page-8

What share price would the big holders sell for? It would not be low.

How much would SFR be prepared to pay? I suspect that it would be a combination of cash and SFR scrip.

Shares on issue are just under 409m.
10c a share =$40.9m.
20c = $91.8m.
30c = $122.7m.

Should I stop there?​

Of course, pre-consolidation we would have been quoting 2c, 4c and 6c respectively but the same gross money as I would have been applying a much higher multiplier.

What would you sell for temple?

I would certainly accept some SFR scrip as with all the Bryah Basin tenements at its disposal it could find multiple deposits, plus it has a few irons in the fire elsewhere that look pretty good.

Let's see! Say 20c a share ($92m) plus another $40m in shares = about 1 SFR share for every 100 AUR shares. That's only about 4.2m shares. Mr Fotios would do quite nicely, having paid between 6 and 8c per share. Others would not do that well. Some, like Mr Newton, would lose I suspect.

Am I too high?