not a rip off- a good deal.

We should change the heading not to give new viewers the wrong impression.
No one else came good with a better deal and Glencore wanted no part of Freida. This arrangement allows us to get at least 15kt of copper to start with with a contribution we should be able to manage..Once we have an operation up and running it should be easy to expand,this is exactly what PanAust did with Phu Khan.They started off with a small gold heap leach operation which allowed they to get people on the ground and some infrastructure and when they were ready to build the copper side of things they had running start..Since then they have added production incrementally every year or so and are now moving to 90kpa by 2017.
What really impressed me with them was the concentrate transport.When they started they had a smelting contract with a Chinese crowd in Kunming north of them but no means to get it there.So they transported it south by truck 600 klms (or miles ?) thru Lao and Thailand to a Thai port ,then ship and train to Kunming which was sure a long way around.
This is the kind of thing that will happen at Freida, an initial 100kt then increments from there, low cost and low risk..and always the juicy prospect of Nena.
I once held pna but sold them years ago to buy hig - bad move.
Anyway I have always been impressed by Stafford and his people and am confident they can do Freida properly.
The deal also gives us a bit of doe in the kitty so it should be a while before we shareholders have to kick the can. Also clean exploration leases in Star Mtns is a big plus
All in all a pretty good deal I think.