What happened with POSCO and SFR was quite remarkable.
I think that the SFR BoD (KS, MK etc) pulled a master stroke by not only attracting Posco as a CI but also getting it to pay a premium of about 250% for the privilege. http://www.asx.com.au/asxpdf/20080505/pdf/318yx6yj4vp08x.pdf
It's a story worthy of retelling.
SFR was a gold, manganese, iron ore and lead-zinc-silver explorer in those days. Copper was not a target. Posco took an off-take in respect of all minerals bar gold and diamonds. Copper, what?
One year later, and nearly broke, SFR hit DeGrussa. Posco's money to find what it was after had just about gone, and no joy. Then SFR struck it rich with a major copper find - out of the blue!! Posco had had a major, but fortunate, win, and it only got better after that.
Who will be AUR's Posco? It would have to be a copper producer or seller, eh!
Dare to dream?
Ann: Trading Halt, page-29
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