"it'd only take 1 jorc for FAS to deliver better returns than GWR alone. They already have a 33% stake in GWR's JORC, so any additional resource would add greatly to the return of the people who accepted the deal, while GWR share holders would be left feeling the pinch while FAS holders would be laughing all the way to the bank."
Might want to check your calcs there mate. Firstly until the FAS substantial shareholder notice states a direct holding of that 33% of GWR then FAS DOES NOT own 33% of GWR. FAS have yet to issue a new Appendix 3B reflecting ANY share issues at all pursuant to the deal going unconditional or to reflect the revised bid conditions.
I'm curious to know why 1 JORC would deliver fantastic returns for FAS. It seems to me that the FAS price already has built into it an expectation of being able to get the GWR resource. Without GWR and if Doutch doesn't hand over his GWR shares what do YOU think will happen to the FAS share price?
By the way we are not dealing with "if's" here. GWR have an iron ore JORC, no if's or buts about it. We can talk till the cows come home about whether or not FAS have anything or IF they JORC'ed up a resource what would it be.. but until that happens it is pure speculation that you are trying to offer up to GWR investors - who obviously aren't buying.
But you are absolutely correct, in the event that FAS did prove up something, then I would reconsider the offer. To ask us to do so before anything is concrete means we will only base the offer based on what has been publicly disclosed by FAS = nothing.
GWR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
