For me the Chinese Government having a policy change causing the offer to be aborted or re-hashed would be (although highly unlikely) a good chance to rethink this mess.
Using millions of dollars earmarked for exploring already owned tenements to throw at a logistical and machinery deficient broken down nightmare called Crescent Gold,effectively rendering Focus Minerals impotent to move forward was a very poor decision in my opinion and definitely a stretch too far in this present (but soon to change)pog climate.
So sell it!
If it has undergone such a fantastic turnaround from near bankruptcy to profit, then it would surely be worth several more millions on top of what was paid by Focus, thereby releasing much needed funds for exploring TI etc and relieving the ongoing headache of repairs and logistical costs.
Focus meanwhile carries on plugging away producing ounces from known reserves to keep ticking over while giving Dean and crew the chance to find the big one just at the time when gold prices pass the $2000 mark, which even the boss of Barrick said was going to happen in his opinion last month.
Why come this far and then hand control to someone else when the means to continue are staring you in the face? You make a mistake with Crescent Gold , man up, admit it and use it to your advantage to continue doing what the funds were given to you for in the first place, only this way you will have even more funds to do it with and Focus minerals stays in control.
Is this too simplistic and I am missing some preventative legalise point here?
Because if there isn't (and I am not sure) then would that not have been a better option all round?
Would be happy to have some other opinion for or against.
FML Price at posting:
3.1¢ Sentiment: None Disclosure: Not Held
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