Ann: THX: Red Bore Pre-emptive Right Exercised, page-3

Hey Whatsup, this is minor imo compared with what else SFR has.

Red Bore is a 2 sq km mining lease. It's very small, but has already produced a JORC'd vms cu/au deposit at and near the surface, albeit a very small one; one that is not feasibly minable. But there may be another one or two.

SFR saw merit though in offering a farm-in.. All it had to do was issue $1.5m worth of shares (about 265K in number) and spend $1.5m on exploration within 18 months. I am sure that that amount of time would have told the experts there whether yes or no.

Now the minor holder in SFR has gazumped SFR. I reckon that they would be saying: 'the best of luck mate!!' - and so do I! It's bizarre! How will he do better than SFR? But even if he JORCs 30k tonnes of copper down the track, who will mine it? - if at all! Sandfire would be a lay down misere, but it would play hard to get I reckon, unless it was really desperate and the tonnage was much bigger that 30K tonnes and excellent grade!