I like this deal IF some drilling gets completed in the next 6 months. Why I like it:

1. Values FMG at around .20 per share (not including the Panta claims which are not part of the deal)

2. Eliminated dilution to shareholders (5 million cash to FMG) current market cap is 4.5 million.

3. In addition to the cash is a minimum 11,000 meters drilling which is substantion given most of the mineralization is at the surface ($3,000,000 value) .

4. FMG retains Panta claims(big block of property)

5. It is with a major.

I expected more of a focus on % for exploration dollars but that results in heavy dilution. Another key part of the news release is that Corex and Vale are currently drilling.