Hellyeah how about actually reading the announcement. 5300 ozes in this financial year which is June 2007-june 2008 increasing to 65,000 in finacial year 2009 and given that they won't start putting ore through the plant till the end of April what more would you expect. Do the maths profit per ounce is $Aus627 on Perserverance they have 118,000ozes indicated at Perserverance and if they get 90,000 of that with dilution etc and a current mine life of 21 monthes that realizes ~56my in profit. Hello why wouldn't you take your 50% partner out for 30my giving you 100% of the additional 1.5my ozes and a fully permitted plant that,s worth 30my without upgrading. That puts Focus in control of it's destiny and gives it the leverage to take a regionally dominate position in the gold business. Oh and I forgot about "the Nickel" aspect. Go ahead vote your shares against the deal and don't take up your entitlement to the 5.5cent shares that you will be offered when the sp will be north of 7 and probably north of 10.
FML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)