focus buying baby focus with 100koz production, page-10

Actually does Deutsche bank have any idea of what constitutes a good investment?

"Sydney, Mar 26, 2007 (ABN Newswire) - Crescent Gold Limited (ASX: CRE) is pleased to announce that its future growth strategy is to be backed by a strategic alliance with Deutsche Bank AG (acting through its London branch) ("DB").

The strategic alliance, arranged by Capstone Capital, is via a private placement to DB (or a member of its group) of 315,789,474 ordinary shares in Crescent at A$0.38 cents per share for A$120m cash. Following the placement, DB will have a voting interest in Crescent of 51.75% on a fully diluted basis."
http://www.abnnewswire.net/press/en/35913/Deutsche_Bank_Invests_A120_Million_In_Crescent_Gold

So after investing $120m in CRE what is their investment worth today? Good deal? I don't thinks so.

I invested in CRE around this time thinking with a war chest of $120m CRE would be an up and coming gold miner. They spruiked themselves as the Kings of low grade miners but I don't think they have had a year in the black (could be wrong) since the start of the gold bull 10 years ago.

Their sp performance has been abysmal as it became obvious to management it was costing more to mine and produce the gold then what they could sell it for, to the point they closed the mill and much later had the ore processed by Barrick because they could do it cheaper.

Lately they had been buying up tenaments - my guess, to increase reserves to make them attractive as a TO target. Guess their plan worked and no wonder their Management grabbed the opportunity to sell.

I have no fond memories of CRE and admit this deal was the last thing I expected from FML I will watch the action from the sidelines for a while.