AP,yeah... best to get off the contrived 'im out'...

AP,

yeah... best to get off the contrived 'im out' thread.

received the mailed-out hard copy last night: certainly a lot to digest.

don't think scragg has even looked at this, judging by the nonsense with regard to Sekoko getting something for nothing.

FSE have gone to a lot of trouble to present a balanced view of the situation: BDO Kendalls report in conjunction with Venmyn's valuation provides a clear picture of current situation.

Venmyn consider the FSE Properties worth between $26.8 million and $38.8 million, with a preferred value of $32.8 million.

BDO ask the question: "Is The Transaction Fair?"

"In Sections 9 and 10, we determined that the consideration to be paid for the Transaction compares to the Value of the 30% interest in the Lexshell JV, as detailed hereunder."

The Transaction	Ref	Low $m	Preferred $m	High $m
Consideration to be paid	11.3	23.0	25.1	27.0
Value of the 30% interest in Lexshell JV	12	26.8	32.8	38.8

"The table above indicates that the value of consideration to be paid to Sekoko is less than the value of a 30% interest in the Lexshell JV.
Therefore, the Transaction is fair."



Res 10 is of more interest to me, Sekoko is a done deal.

RESOLUTION 10 – ISSUE OF SHARES
"The Company has resolved to issue up to 500,000,000 Shares (subject to Resolution 9 being passed) at a price of not less than 80% of the volume weighted average trading price of the Company’s Shares on ASX in the 5 trading days prior to the date of issue of the Shares"

that's $25Million AUD if placed at .05c share, when sews up the BFS funding....

cheers