Find8, you're the one who "created" the $200 million dollar debt by falsely assuming that FAS PAID for their 33%, what FAS has done corkhead is produce 210,000,000 odd FAS shares to swap for the GWR shares. This DOES not impact on their balance sheet but sure does on their value per share. To replace this lost value per share they now are beneficial owners of 1/3 of the GWR resource and whilst they have incurred costs in obtaining this value- say 40 million they now own 1/3 of a company valued recently by PWC at $300 million odd. So for $40 mill they bought $100 mill.
Well I don't know about you but I could finance that deal.
So realistically with only the GWR shareholding the company FAS has a realistic value of in excess of 30c per share. If it can demonstrate any other assets the a share price increase is inevitable, particularly if GWR increase their JORC resource. So Find8, until you understand the business best watch look and listen and buy FAS.
DYOR quickly
FAS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
