Ann: 121 Mining Presentation, Cape Town, page-6

Hey @Cashmeoutside I'm reading the 38c per share as firm:

"The Indicative Proposal comprises a full scrip consideration equivalent to $0.38 per MOD share, valuing the Company’s equity, on a fully diluted basis, at $113 million1. This is equivalent to an exchange ratio of 1 Sandfire share for approximately every 17 MOD shares1

1 As at close of market on 15 January 2019."

SFR's announcement says 38c, no mention of exchange ratio, it's our boys who have put the ratio forward. I'm very happy to be wrong though, but if I'm right I think we miss out on any SFR uplift under "38c sticks" approach...and if that is the case we will need Rob Brough to come out of retirement and distribute a few Whammies to SFR.

"....and the survey says.........................BUH BUHHHHHHH"