Thats a super copper highway they have found, WOW
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And so shallow to. Starter open cut operation with a portal to the deeper stuff, for sure.
Pyrites and oxide ore may cause some difficulties, so it won't be all plain sailing.
Still, how often can you say you've seen results like these.
Also, a recent presentation worth watching.
http://www.sandfire.com.au/#
The recent news of OZL taking a 19% interest must also be positive. OZL have been very careful about spending their substantial cash reserves until now and now that they've spent some I'd expect them to put their weight behind SFR. Or maybe try to buy them out?
OZL's investment in SFR seems to be a positive for the latter so far, with the SP closing last week at $4.05.
There was an article in the AFR a few days ago in which the Chairman/MD of SFR was reported as saying that OZL had got the "bargain of the century" with its investment at $3.85. But then he would say that, wouldn't he?
$4.70+ go you great share , up fron .20 in 18 MONTHS , NOW THAT A 23 Xer !!!!
Capital raising ($5.02), Strategic Alliance and Sales Agreement. Why didn't I see this coming? I dithered too long, again, in taking the plunge.
SFR is in a trading halt, pending release of a resource upgrade.
The effect is being felt by OZL whose SP is up nicely.
Disc: Don't hold SFR unfortunately, but have a few OZL.