I see little chance of further downside. With all else being...

I see little chance of further downside. With all else being equal, if the deal goes ahead, then 3.6cps represents value as it puts a current valuation of the company at about $92mil. To get a market capitalisation of $92mil without the deal, the share price would have had to of fallen to around 2.2cps.

In my opinion, just a shake up at these levels especially as we know little about the deal or the performance of FML over this quarter. Don’t forget the gold price has strengthened significantly since this deal was in the pipeline.