Interesting narrative. In my view, Shandong — being a Chinese state-owned entity — is unlikely to receive approval to fully acquire Focus Minerals. Per your thinking, their real interest may lie in securing physical delivery of gold at spot prices, which shouldn't be a major concern for Focus shareholders. What also supports your narrative is that Focus has significantly ramped up mining activity and successfully produced gold from greenfields projects, despite challenges around cost and grade.
If you are right, we should see some acquisition soon - horizon is what I speculated on some time ago.
Either way, whether it's a sale or growth-focused acquisition, focus shareholders should hopefully immensely benefit.
FML Price at posting:
40.0¢ Sentiment: Buy Disclosure: Held
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