SFR don’t want the JV to drill and find something or the purchase price for TLM will double overnight, so it appears at least from the outside there is some delaying tactics with the drill rig “availability” issues and the lack of news combined with some crafty broker trading has brought as where we are today - all in opinion.. I think they know there’s more in the monty tenements than what they’ve found thus far.
Harmanis will be holding out for much more than 20c given he picked up the bulk of his holding during a placement at 45cents. He knows he can wait out 2 years and collect over 25c in monty dividends alone - which will be tax beneficial for him as he’ll get the franking credits whereas a sale will just hit him with a tax bill. Whatever is going to happen has to play out in the next 6 months in my opinion, and it can’t get much lower than it is today.
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