fml after cre for free-better offer to come?

FML after CRE for free

June 2010 CRE tax losses $173m
Since then CRE has raised around $50m plus borrowed $13m or so from FML
So lets assume CRE has spent $13m on capital expenditure.
That leaves $173+50m in losses to this June 2011.
Now at 30% tax rate $225m accumulated tax loss=
say $70m tax value

FML Offer values CRE shares at around $70M or so

i.e. give us your assets and operation for nothing because we?re only prepaying the next 2yrs tax by issuing shares instead of parting with cash.

FML expected to make around $200m over the next 2yrs (if CRE breaks even, even MORE IF THEY ARE SUCCESFUL TURNING AROUND CRE)

Fml existing tax loss only $17m

As an old add on TV says -------Very convenient.

FML getting CRE for free + 100koz au production with only upside

Somehow I think the offer might rise to 1FML for 1 CRE very soon after another gold company sees the same opportunity to pay less tax and get the whole kit and caboodle for next to nothing.

Time to stock up and NOT ACCEPT the offer if you?re a CRE holder

If you?re an FML holder-what a deal your management has come up with, shows how sharp they are.