Ann: FML: Update on the Coolgardie Gold Project Sale Process, page-15

That's reality of the life... as Gold was in substantial uptrend and may continue well above current levels , according to leading experts, so no wonder the other party (lost so far a lot of money on entering the OZ market ... is trying to recoup more money...)
Summary by Reuben Adams from unmentionable site:
"

Horizon Minerals (ASX:HRZ) has boosted its offer for Focus Minerals’ (ASX:FML) 2.1 million-ounce Coolgardie gold project from $40m to $55m to match an unnamed third party bid.

An exclusivity deed was signed in February between Horizon – a merger between McPhersons Resources and Intermin Resources – over the purchase of Focus’ 2.1moz Coolgardie gold project, which includes the mothballed Three Mile Hill processing plant.

In July, Horizon said the proposed $40m acquisition had been delayed by three months, ostensibly to “finalise formal documents”.

Today, we find out that Focus received a superior competing bid, which Horizon has now matched under the terms of its exclusivity deed.

The counter proposal increases the proposed price from $40m to $55m, comprising $12m in fully paid ordinary shares and $43m in cash.

Focus has decided that Horizon has successfully matched the third-party bid.

“As a result, the terms of the exclusivity deed have been updated to reflect the terms proposed in Horizon’s counter proposal, and Horizon and Focus will continue to use their reasonable endeavours to agree formal binding documentation in respect of the counter proposal,” Focus said.