It looks to me as though the "lads" are playing with this one...

It looks to me as though the "lads" are playing with this one forcing the sp down in anticipation of some form of raising knowing full well the fundamentals clearly indicate that this stock is truly undervalued. If Focus succeeds in taking out their JV partners the facts are: They own 100% of 1.6my ozes of Jorc compliant gold resources with Au production slated for April ramping up to 100,000 within 3 years.
In addition they own the old Nepean Mine which has 591,[email protected]% Ni for 13,000t of contained Ni medal slated to be producing with remnant mining by April.Nepean is the only Kambalda style Nickel mine that has yet to be brought back into production eg Independance's Long Mine, Mincor's suite of kambalda deposits,Lanfranche etc. It has only been mined to 500m and from that produced 33,000 t of Nickel and based on the performance of the other similar sulphide nickel deposits the odds are more than good they will find significant extentions down dip similar to Western Areas Flying Fox.
A fully permitted 1.2my t/annum gold plant which is strategically located to help leverage Focus into a dominant regional gold producer.
And finally Focus owns 210 sq km covering the prospective Coolgardie greenstone belt which historically has been a prolific producer for both nickle and gold.
Just for comparison Barra Resources owns The Burbanks Mine which has 74,000 ozes of Jorc compliant gold resources. Burbanks is hosted by a shear zone in the same Coolgardie greenstone belt. This same structure also hosts Focus's Dreadnought,Tindals,Empress and Perserverance deposits 5km north along strike.
Currently Burbanks is not in production but is expected to come back on stream sometime in 2008 for an annulised production of 35-40,000 ozes.In addition Barra is in a jv to develope a nickel laterite near Norseman. Barra is capatalized @80my.
Similarly Integra resources has 1.6myozes of Jorc compliant ozes,and a 1.3myt/annum gold plant which requires shifting 60km east which the company has estimated will cost 50my. A feasibility is not due to the end of 2008 and possible production may start sometime in 2009. It has no Nickel assets. Integra is capatilized at 174my.
Avoca has 1.35my Jorc /compliant resources, completed feasibility, plant due to open July 2008 to produce an annulized 190,000 ozes at a cash cost of $AUD370/0z.It has no nickel assets.
Avoca is capitalized at 480my.
Focus is capitalized at 43.4my.