Last month, the company announced the US$1.865 billion acquisition of the MATSA copper complex in Spain, which is the largest all-cash offer ever by an Australian mining company. The equity part of the deal required Sandfire to raise A$1.24 billion at $5.40 per share. The stock dropped as low as $5.05 earlier this month but closed at more than $6 on Friday. "In my view, we're worth at least $10 a share as we sit here today," Simich told The Boom in a Room Investor Conference on Friday.