Given the TI results, it sounds like we can confirm that purpose of CRE is to get a mill over as soon as possible. I think that this means that management are aiming to get TI in to production as soon as possible and will be aggressive in achieving this goal in line with their motto.
Since TI is a winner, CRE will be useful just for the mill and the tax losses. Improving existing operations and potential for further exploration is probably just a bonus.
To put it all in perspective, based on current levels of shares outstanding, if Focus can build to 680,000pa total production at say $850 per ounce cost then net profit could be around $300m per year and earnings per share at $0.085 which is greater than the current share price! This would probably justify well over $1 in share price. The potential is huge.
Ann: Treasure Island Exploration Update , page-20
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