as an FFR holder, deal seems OK for both sides, probably the best result considering circumstances for both sides. CGY gets ore, FFR partners with a producer, the time cost of doing nothing for both is probably more expensive long term then extracting the value now and leveraging off eachother.
Gold price gets a bump higher in the next year and its a good deal for GCY and also forwards cash flows sooner for expansion. FFR tenements to be further explored and looks highly prospective.
I think long term GCY will do well from this given rising gold prices and further Yalgoo exploratio.
Ann: Gascoyne and Firefly Agree to Merger, page-9
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