BVN probably will rue the day they let that deal fall through, mind you they arent the only company that has stopped all acquisitions flat. The decline in the price of gold with rising operational costs has certainly put a squeeze on the industry. Look at Barrick, 2 years I go I thought they were doing the smart thing taking back all their hedges 3 years out, however the reality has led to a far different outcome.

On the other hand, there are clearly companies in acquisition mode, although they are pricing well under value because they know they can augment the deal in their favor. When you have the choice of bankruptcy or a bad deal, you take the bad deal as its in the best interests of your shareholders.

Not at all an ideal situation, but it is the reality of the juniors right now.

Moreover a reason Im in favor of more dilution and drilling, if we give 70% of the project away who knows how much forward looking value we could be losing. On the other hand, raising funds is not easy at all in this investing climate, but I believe we retain more value by dilution than a JV.....when the BVN deal had fresh ink all over it the markets were still slightly better....I wouldnt be surprised if the next JV was an 80/20 split.

I think Jim is a great president and he fully believes in this project, however no one can fight the markets. I much prefer the option of dilution, however there is great reassurance in knowing the money is there, whichever outcome it is, one way or another well unlock whats in the ground here.

I think if Vale drills some good core from the Corex property we may get a lot of interest in FMG. It wouldnt be out of the realm of reason to suspect Vale may want to do a deal with us, however if the core is good, we have a far better negotiating position.

The juniors are cash strapped, and dimes are looking dollars to a lot of these guys right now, but we have an excellent property, excellent management and an excellent story.

I like the idea of raising a half a million (or as much as possible), and doing some of our own drilling....my guess is that Jim would have a good idea where to drill to get some good grades, alls we need is some more eye popping numbers and well get all the attention we need to run the price a bit (hopefully, the markets are awful), and garner some interest.

FMG has the goods, I believe that. Jim is a good president with a great property, I dont believe hell let this slide. Whatever he does I fully support him and the story.

Rogue,