You say that we need a working mine but realistically what...

You say that we need a working mine but realistically what timeframe do you put on Andewa? 5 years, 10 years? The truth is that this deal is bad news for anyone interested in the long term performance of this company. We have given up majority ownership of two important leases and received very little in return. The best part of the agreement is that people will see Newcrest associated with FNT but its cost far too much for what that will bring in the short term.

That additional $750k will keep us afloat for what another quarter maybe and Newcrest were able to secure 7.5m shares at 52 week lows. The company will still need to raise additional funds this year but now we have lost majority share in two important leases.