why are crescent so keen with the offer?, page-2

evening,

I can't give you facts, but imo - it probably went this way.

cre most likely knew they were in trouble and out of their depth.

They would have possibly have had an approach by some members of focus - possibly Chuck at some stage as bdo.

They would have known about chuck and don taig re. their reputation if not personally.

I assume they would have been sold on the focus story as have any of us who have had personal contact with either chuck, don or cb.

They would have been aware of the excitement of TI (and probably aware of the plans for mill relocation if that is the case).

They would have been reassured that we were friendly and would not want to make an unfriendly takeover - we got where we are by being honest and having honorable dealings and making friends - not enemies.

They would have been well aware that fml price is holding up whilst most others in the recent past have been badly done by.

They would have been aware that they were being offered a cheap entry into a hot prospect with solid track record and we do pretty well what we say we do, whenever we can.

If you were a shareholder in crescent (with a decent holding) - what would you do?

For my money, it would be a dammed good chance to get a bigger stronger horse for a cheaper price.


For fml, the advantages are different, but every bit as powerful - that is why this will work and work well. I await Ned's views on this and I know that we don't know the full story yet - but it sounds good to me - especially if some of us are right in the advantages that we think are here - remember we are buying in to extract 'full value' - that's exactly the right words to use when you know how to drive a machine that someone owns but don't know how to drive it as good a you do.

Knowledge is power and good assets are always valuable - but combine the two and you have a real winner - this horse isn't home yet - we will see what develops over the next weeks months and years re. this deal.

have a great morning

Pinto

ps - confession -- arrh, haven't had a beer, don't eat chocolate and the news is bad for Belgium (probably good for fml) - Belgium is buggered - seriously the place looks broken. It hasn't had a government for 1 year (the french and the flemish can't agree on power sharing) - the joint is a complete mess - I have never seen such a schamozzle in a developed country.

If Greece, Italy, Spain etc are as bad as this - europe isn't going to get out of this at all easily, if at all.

People here don't own such things as ipads because they are too expensive and our car was broken into within 10 minutes of arriving at a friends house in a better address in Brussels - things are crook. There are roadworks everywhere with about 95+% no work being done - just resulting in blocking roads for traffic - never seen anything like it - not even in central asia.
The wine is crap unless you buy your own from a supermarket or similar.

Gold is good.

Pinto