Ann: PanAust to acquire majority interest in Frie, page-23

re: Ann: PanAust to acquire majority interest... My two cents worth: it definitely raises the risk, but,

- around $300m has been spent on this project by Xstrata, so the price is reasonable, all pretty much drilled out, just needs the DFS to stack up

- power could potentially come from a gas plant that Horizon is likely to build within reach

- similar terrain and processing plant to PNA's current Laos operations.