The ground is marginal at current POG. It is uneconomic if POG...

The ground is marginal at current POG. It is uneconomic if POG drops................................. but I doubt very much that IRC are making this acquisition for the ground. It is about the mill IMHO............... at replaceable market value of $120m it seems to be a cheap acquisition for any company with gold reserves looking for a milling option.............. surely???

Thus the question for DYOR types is whether IRC/MRP under the newco Horizon have the gold reserves in the pipeline to feed this mill............ and how much capital needs to raised down the track??? 

Notwithstanding,the Focus ground does have some good pockets that might help line the pockets if the mine planning is good enough. Watch this space.

Cheers