Ann: Maiden 45,600oz Mineral Resource for Green Light, page-8

If we are looking for short term SP rise, the recent announcement won't provide that. Reviewing what we know, we now have a sizeable resource which seems to be mineable at a good profit margin.The Board has committed to resuming mining at Coolgardie , including the costly mill refurbishment. It wants to mine Laverton later, presumably when some revenue comes in from Coolgardie.Shandong head office is not lending Focus more money, but has committed to buying its full share of the issue. It is still limited to 49% of shares, by FIRB, and that is unlikely to change, especially with the current state of relationships between China and Australia.The share issue failed to find institutions to underwrite it.Those based in USA, eg the estate of Lloyd Miller 111, cannot participate in the issue. Therefore there will be a sizeable parcel of shares available after the issue. They will be held by a trust company and then offered for sale. I do not believe the FIRB will allow Shandong to purchase them. How will they be sold? A placement to a willing institution, or on the open market? Either way, they could be on sale at a significant discount. (Unless the market changes significantly).I am positive that Focus is finally committed to mining profitably, and in a year or two I believe the share price will have increased very significantly. Unless of course there are problems and the mining is not profitable, then goodbye to our investment.So I am not expecting the SP to rise very much in the short term, especially as I would expect those unable to participate in the share offer to be selling big chunks. However I do expect it to rise significantly when profitable mining has been achieved. My plan is to take up some of the shares on offer at 0.25, and to wait and see what happens with those unsold, which will pass through the trust company. We may get them significantly cheaper.As usual, I could be wrong - as has happened many times before with this company, but that is how I read it.