seems technically oversold, page-4

It's a big if kid in light of the resolutions for the EGM. Assuming it does happen, it's hard to say as I dont know if the 19 odd% who signed the pre bid have been allocated FAS shares since FAS went unconditional with the T/O offer.

I do know that since Unco, Fas shares have been issued to the rest who have accepted the offer.

Assuming all who have accepted the offer have been issued with FAS script, then I would say the SP would remain where it is unless there is a resource/upgrade from either company.

Other things to consider now is the extra GWR shares on issue due to the share placement and the upcoming rights issue. Without a resource upgrade, the SP for FAS could drop even lower if the T/O was successful.

On the other side of the coin, I rate FAS as a Buy on technical grounds, but they do have some good fundementals going for them which people seem to have overlooked in the dust of this bitter take over battle.

Those goods prospects at Mt Padbury where they say there is good potential for uranium and to add fuel to the argument, Classic Minerals have since taken posession of an adjoining tenement. Adjoining them both, there is a tenement controlled by Murchision Resources Pty Ltd who was a shareholder in GWR. On a FAS map, that Murchison tenement has visible (BIF) Iron formations, which are right next to FAS tenements up there. This info is all readily available on the Dept of Industry and Resource of WA.

It could be possible that they cross over onto the other tenements, but I am only speculating there.

And then there is Kurnalpi which Fas has spent some resources on with the Gold Prospects.

I don't know what is going on with the Knight's industries oil venture in Victoria.