can fas survive

We all know this bid is in a very precareous state at the moment cash troubles, investigations, acceptances soon to fall to 25% and loosing representation on the board of Golden West Resources........

But here's is my question can fas survive?

Here is what they have spent in the last half year.....

$2.122m on takeover fees
$1.054m on admin

which gives a total of $3.176m

Fairstar at the end of the last period had a total of $1.460m in the bank....

Now repeat these costs above (as wally and the rest of the Fairstar crew state this takeover will go on for another 10 months.....)

taking these expenses into account gives $-1.716m at the end of the next half year period...

now the cash position starts to look a bit prickly when you add in Fairtstar's near term planed expenditure.....

Six to ten thousand meters of drilling at the companies Kurnalpi and Randalls gold projects ~$500,000

giving ~$-2.216m

Oil project with knight industries
$100,000 upfront
further $1 million once oil permits signed
giving ~$-3.316m

followed by an additional $1.5 million depending on drilling results
giving ~$-4.316M

at the end of the next half year period fas should have a deficit of around $4.3m....

though we could change to the nearer short term to the next period (3 months) and we would get some where around ~$-1.73m if the drilling license is granted and drilling begins

Now from what i see Fairstar are having great difficulties at raising cash.......... does this mean they will soon be trading while insolvent??????????????

Seems to me Fairstar is struggling to survive let alone take over another company.....

But never fear!!! I'am already contacting the relevant authorities to get them to write a please explain notice out to Fairstar as to how it plans to meet its very short term planed expenditures.....


oh and just when you thought things couldn't get better no one has answered my question as to what will happen with the defeating conditions????

Do the Fairstar crew realize that the shares Fairstar have issued the accepting Golden West Resources shareholders can be taken back with the defeating conditions...... ;)

its not over until its over.......................