Ann: PanAust to acquire majority interest in Frie, page-5

re: Ann: PanAust to acquire majority interest... I think the price paid by PNA of $75m to acquire the 80% interest sounds very attractive. Considering RIO sold its prospective copper/gold land holding in NSW to a Chinese coy for over $800m in July 2013. However, I understand this area is already producing copper and most of the capex was undertaken by RIO.

As stated PNA will have a huge capex before the money starts rolling in. Hopefully PNA will be able to get the PNG Gov. or a joint venture partner on board at a good price.

PS: I think we'll see the last of Dividends in the Dec 2013.