Champ,Focus aquired CRE, well almost, for a pittance.There is a...

Champ,

Focus aquired CRE, well almost, for a pittance.
There is a reason why it paid pittance and that is, cre uptill then was extremely inefficient in its operations.

Focus has just taken the control and will take few qtr to show turn around, Jon g mentioned FML is targetting to bring the cash cost down to 1100 in next 3 qtr or so.
Thus we can expect CRE to make money from 3rd qtr of CY12, till then if CRE can just be breakeven I will be happy.

Meanwhile going forward we will see improvements in FML coolgardie operations both in terms of production and cash cost thus profitability.

look at what FML is trying to achieve in CY12 and then Look at its mcap. The reason its available at current mcap is because the water is currently muddied, and ask yourself if the water was clear will it be sitting at current mcap?

I may be totally wrong by the end of CY12 and FML may indeed be a dog, but right now to me its a high risk/reward proposition and a risk which I am willing to take.