morning f&b, juju and all,Personally my partner and I are going...

morning f&b, juju and all,

Personally my partner and I are going to wait to see what Don writes in the next few days.

We are aware of some of the benefits and know they are huge.
Personally I want a lot more detail of the plans.

We are also aware of the price - and that is, without doubt substantial - and we also are not sure we want to pay in control etc..

As I say we will wait to see what Don has to say.


One of the biggest problems I see is - without a crystal ball, what are the alternatives.

I can tell you if it were me with the money - I would more than happily put in - but in general this is what I would want.

Throw whatever Dean wants at exploration for a 12 month program - and I assume $50m would go a long way. I would drill the bejesus out of TI - diamond (continuous), rab (heavily) and check geochem when I needed it.
I would beef up the geo team.
I would go for broke at Nepean - prove Chucks dream or give it the flick - I am fully confident Chuck is right.
I would also let Phung loose with as many drills as she wants in Coolgardie -- it's not even the targets we know about - there are so many funny little samples hanging around offices that deserve money being spent on them - it is laughable.
Laverton - press the drill button.

Processing - focus look like they want to be prudent and conservative - which I suppose is good - they want to prove up the resources and reserves and then press the processing button.
If I were the investor - I would want them to go ahead (NOW) - personally I see little risk in not getting the resources/reserves we need - bugger the wait - go for it now.
I would want to see 3 mile at 2m tons -- from what I hear at 2m tons - it works profitably, without fuss.
I would want barnicoat - again 2m tons.
I would want some sort of plan to take Coolgardie up at least another 1m tons (so 3 all up) - be it getting greenfields and just using it for grinding or some other plan - either way - get us to a min. of 3m tons all up.

I would have my eye on Granny Smith - I don't know what the cost would be - but personally I think we would have no problem feeding 5m tons all up from Laverton - and I think we would prove it up within 12 months.

I honestly think fml could take a punt or two here - why?

If chuck is right about Nepean - boom, all paid for.
If/when Dean hits the first elephant - boom again - and I think there is more than one elephant here.
Coolgardie has that many quality targets it is ridiculous.
Laverton has huge potential - and very high pro

The only problem I see here is that we actually NEED a large capital injection - and I believe we need a cornerstone - and I just wish it were me - and I wouldn't demand 51% - in the 40's would do nicely.

To give 51% to a chinese national is a massive price and we are discussing that - but again I will wait to see more detail.

At this stage all I can say is we won't decide yet.

have a great day all

Pinto