New research report, page-12

Maybe you need to understand why mining projects are of value? Iam pretty sure it has something to do with the free cash flow they generate over the (loooong) life of mine / operation.

So with the BFS valuing Thunderbird at +$600mil and independent analysts at $850mil, there is no doubt SFX is attractive to those that wish to maintain significant control and enjoy the profits from the attractive mineral sands markets. Illuka and Rio easily come to mind.

I was encouraged to read Steu McIntyre’s from Blue Ocean’s update note this week off the back of the AIP terms for the NT settlement where he has suggested that SFX is likely to see a T/O bid within 12 weeks, off the back of the company signing binding NT terms.

I don’t mind his hypotheticals he is running with in terms of where a bid may come in at either!

With the hot money selling into the ann last week looking for liquidity and as a result keep a lid on the share price, it may give us a little more time to add to positions. It will be interesting to see if any institutional buying re enters the market this week as the importance of the recent news filters out to the broader market.