Walliskai think you're drawing a long and dubious bow.FAS is...

Walliska

i think you're drawing a long and dubious bow.

FAS is back to 33% that's all.

No progress in that regard - that's what it had under the 5 for 1 offer.
... and the way most of the 33% would have been achieved is not from genuine GWR shareholders converting to FAS - why would they convert genuine GWR JORC resources with dubious FAS scrip?.

No genuine GWR shareholder in their right mind would.

so you're still stuck at 33% .. as you were in October last year.

Now to get the critical 17% is where the difficulty lies and where a cash offer will be necessary.

I would personally not accept anything less than $4 per GWR share.

there's a lot of true believers in GWR .. and they are not easily shaken.

FAS has caused its shareholders a lot of pain and has no JORC resources .. why would GWR shareholders want to convert their shares ?

Maybe for the right cash offer .. at least $3 plus i suggest.