ABN Newswire

FINANCE VIDEO: White Crane Group Chief Economist Clifford Bennett Presents To Sydney Capital Markets at Investorium.tv

newsroom@abnnewswire.net — Thu, 23 Feb 2012 17:00:00 GMT

FINANCE VIDEO: Clifford Bennett, Chief Economist at White Crane Group presents to Sydney Capital Markets at Investorium.tv. He gives a quick overview of the current global macroeconomic status, forecasting a robust economic growth and strong demand for commodities in 2012.

Clifford believes that the "New First World" - Asia and Latin America - has overtaken the "Old First World" - the United States and the Europe - to drive the global economic growth. The United States no longer leads the economic cycle and the US dollar will continue to devalue. He is confident about the outlook of the Australian resource sector and the European fashion sector, as they have markets in the "New First World".

Clifford says that the media was very pessimistic about the world economy in 2011, resulting in a huge disconnect between sentiment and reality, as the world economy still held strong. Clifford believes that the depressed prices in varied market have created some once-in-a-lifetime investment opportunities. He is very optimistic about the world economy in 2012, predicting a growth of 5% or even higher. He adds that higher Australian dollar value is the product of higher commodity prices and higher demand for commodities, which will remain the main driver of the resource industry.

Clifford Bennett is also the author of Warrior Trading, available at Amazon Online bookstores.

View the Video Presentation at:
http://abnnewswire.net/press/en/71670/White-Crane-Report

The White Crane Group produces daily reports that are available on a subscription.

The Daily White Crane Report:
White Crane daily reports outline advanced macro-economic concepts and views that are entirely original here at White Crane Group. We are world leading in many of our ideas on contemporary economic processes, and we have shown for several years now that we have the ability to turn such economic insights into quantifiable global financial market advantage. This is not new to Clifford Bennett, who has a 25 year track record of making big calls that have shown themselves to be remarkably accurate.

The Daily FxMax Report:
FxMax is a daily report on global currency markets, and includes near term trend signals aimed at delivering strong positive trading results, as well as ahead of the curve macro economic insights. An insightful overview of daily macro events, combined with many years of experience of intra day trading patterns in the different global time zones, contributes to a unique and effective perspective of Fx markets each day. FxMax delivers an original "view", and quantifiable "trading" performance with easy to follow signals across a wide range of currency markets every day.

Samples of both the White Crane Report and the FxMax Daily Report are available at the following link:
http://www.abnnewswire.net/whitecranereport.asp

Clifford Bennett
White Crane Group
Email: enquiry@whitecranegroup.com.au

Anglo Australian Resources NL (ASX:AAR) Appoints Mr John Jones as Chairman and Mr Peter Stern as Director

newsroom@abnnewswire.net — Tue, 29 Nov 2011 09:26:53 GMT

Anglo Australian Resources NL (ASX:AAR) wishes to advise that Mr Chris Fyson has retired from the Board in accordance with the Constitution.

Mr John Jones will assume the role of Chairman from now on.

In addition, Dr Denis Clarke announced his retirement from the Company following the AGM.

Mr Fyson has been a Director of the Company since 1985 and the Board thanked him for his long service to the Company which included being Chairman for the past 12 months. Dr Clarke has been a director since 1999 and has acted as the Company's Technical Director during this period.

Mr Jones thanked both Mr Fyson and Dr Clarke for their services to the Company.

The Company is pleased to advise that Mr Peter Stern has been appointed a Director following these changes.

Mr Stern is a graduate of Monash University with a Bachelor of Science degree majoring in geology (1st Class Honours). After completing his degree, he worked for three years as a geologist for Delhi Petroleum.

In 1987, Mr Stern joined Macquarie Bank where he worked for six years as a corporate finance executive. He subsequently held senior positions in corporate advisory for both UBS (NYSE:UBS) and Deutsche Bank (NYSE:DB), both three-year stints. In such roles, he was responsible for many substantial public company transactions in the resources sector.

In 2000, Mr Stern established Metropolis Pty Ltd, a boutique corporate advisory firm that specializes in M&A and capital raisings, with a particular emphasis on the resources sector.

Mr Stern is a Fellow of the Australian Institute of Company Directors.

John Jones
Chairman
Anglo Australian Resources NL
Tel: +61-8-9322-1788

Focus Minerals Limited (ASX:FML) Advise Crescent Gold Limited (ASX:CRE) Board Chagnes

newsroom@abnnewswire.net — Fri, 14 Oct 2011 09:10:33 GMT

Crescent Gold Limited (ASX:CRE) is pleased to advise that Don Taig, Chairman of Focus Minerals Limited (ASX:FML), has joined the Crescent Board, effective immediately.

Focus Minerals successfully completed its off-market takeover of Crescent Gold earlier this month. The offer was strongly supported with 82.5% shareholder acceptance.

Mr Taig has significant mining and executive management experience. He spent 11 years within CRA Ltd's mining businesses both in Australia and overseas and was a director of Metals Exploration Ltd. He has also held a number of senior management roles within the food industry, including as Managing Director of Goodman Fielder's (ASX:GFF) Australian Baking Division; Chief Executive Officer of Bunge Cereal Foods; and Managing Director of Chiquita Brands South Pacific.

Geoff Stanley, Chairman of Crescent Gold said:

"I'd like to personally welcome Don to the Board of Crescent Gold. This is an important step in the process of the integration of our operations and delivering synergies between the two businesses."

Don Taig, Chairman of Focus Minerals said:

"The Laverton Gold Project is a world class mining centre with a very bright future ahead of it. The operations are currently entering an exciting new phase of growth and this is a great opportunity for the management teams of Crescent and Focus to work together to maximise return for shareholders."

Crescent also advises that Simon Grenfell and David Keough have resigned from the Crescent Board. Simon has served as a Non-Executive (Nominee) Director since 6 July 2008, being one of two nominated directors of Deutsche Bank AG (NYSE:DB). His decision to resign follows the transfer of Deutsche Bank's shareholding in Crescent to Focus Minerals due to the recent acquisition of Crescent by Focus. David has served as a Non-Executive Director since 6 June 2007. His decision to resign is a result of a restructuring of the Crescent Board.

The Crescent Board wishes to thank Simon and David for their support over the term of their service.

About Crescent Gold

Crescent Gold Limited is an Australian gold producer operating the Laverton Gold Project, located 250km northeast of Kalgoorlie in Western Australia. The Company maintains a dominant land position of more than 1,200km2 of highly prospective tenements in a world recognised and well-endowed mineralised geological domain. The Company has 26.5Mt of Measured, Indicated and Inferred Mineral Resources that contain more than 2.1Moz of gold, and a Proved and Probable Ore Reserve position of 381,000 ounces (both as at 30 June 2011).

Mark Tory
Managing Director
Crescent Gold
Ph: +61-8-6380-7100

Campbell Baird
Chief Executive
Focus Minerals
Ph: +61-8-9215-7888

Neil Le Febvre
Investor Relations
Focus & Crescent
Ph: +61-8-9215-7888

Asian Activities Report for September 21, 2011: Impact Minerals Limited (ASX:IPT) Updates on Exploration Activities in Botswana

newsroom@abnnewswire.net — Wed, 21 Sept 2011 12:15:52 GMT

Impact Minerals Limited (ASX:IPT) has commenced a major drilling programme at its Botswana Uranium Project. The first results are expected soon and will determine the scope of the drilling programme. The Company has also completed a major airborne magnetic survey over the northern part of the Xade Copper-Nickel-PGE project in central Botswana. The data has been received and a detailed interpretation is in progress.

Cokal Limited (ASX:CKA) has purchased an additional 10% of both the Bumi Barito Mineral and Borneo Bara Prima metallurgical coal projects in Indonesia, bringing Cokal's ownership of the two projects to 60%. The exploration program at the Bumi Barito Mineral project has progressed well, while planning and initial groundwork is well advanced at the Borneo Bara Prima project to enable drilling to commence in the near future.

Manas Resources Limited (ASX:MSR) reported final results from drilling at its 100%-owned Shambesai Gold Project in the Kyrgyz Republic. Two wide intersections of 54m at 2.9 g/t Au and 19m at 1.1 g/t Au were returned. Resource update for Shambesai remains on schedule for release later this month, and Feasibility Study will be completed in the December Quarter.

Tiger Resources Limited (ASX:TGS) provided a production update for August 2011 from its high-grade Kipoi Copper Project in the Democratic Republic of Congo. The plant's maintenance work has finished and the operation is moving steadily towards achieving nameplate production rates and recoveries. It is expected that export sales will commence in October 2011.

Tata Consultancy Services Limited (BOM:532540) has signed a five-year multi-million contract with Deutsche Bank (NYSE:DB) to deliver IT services to the Bank at locations in USA, UK, Germany, Hungary, Philippines, Singapore and India. This will help reduce service complexity and enhance customer experience for the Bank.

Asia Business News
Tel: +61-2-9247-4344
http://www.abnnewswire.net

Focus Minerals Limited (ASX:FML) Offer Goes Unconditional And Payment Terms Accelerated

newsroom@abnnewswire.net — Fri, 19 Aug 2011 09:51:34 GMT

Focus Minerals Limited (ASX:FML), an Australian gold producer, has declared its recommended off-market takeover Offer for Crescent Gold Limited (ASX:CRE) (TSE:CRA) free of all defeating conditions. This means that the Offer is now wholly unconditional.

On 20 June 2011 Focus and Crescent announced that they had agreed to merge by way of an off-market takeover offer for Crescent by Focus. The Offer consideration is 1 Focus share for every 1.18 Crescent Shares. The Offer opened on Thursday 30 June 2011 and will close at 7.00pm (Sydney time) 31 August 2011 (unless extended).

The Focus Offer has the full support of Crescent's major shareholder Gulara Pty Ltd (a wholly owned subsidiary of Deutsche Bank AG (NYSE:DB)), who has provided acceptances for its 28.47% holding. Furthermore Crescent's Directors have all provided acceptances in respect of shares held or controlled by them.

Accelerated Payment Terms

Focus will provide the Offer consideration on an accelerated basis. Crescent shareholders who have already validly accepted the Offer will be issued their consideration shares within 3 business days.

Crescent shareholders who accept the Offer before 7.00pm (Sydney time) on 31 August 2011 will also be issued their consideration shares within 3 business days of their valid acceptance being received.

Crescent shareholders whose shares are acquired by FML after that date (for example pursuant to compulsory acquisition) will receive their consideration shares in accordance with the statutory deadline which are much longer.

Relevant Interest

Focus currently has a relevant interest in Crescent of 66.3%, which would increase to 74.2% if Focus converted up to $13 million worth of Crescent convertible notes, for which approval was given by Crescent's shareholders today (assuming full draw down of the loans by Focus to Crescent, a $0.05 conversion price and full conversion of the one for two free attaching $0.05 options).

Superior Proposal Unlikely To Eventuate

Given the strong control position of Focus, we believe it is unlikely that a superior proposal will eventuate.

The Crescent Board has unanimously recommended that remaining shareholders accept Focus' Offer without delay, in the absence of a superior proposal.

The Board of Focus also advises that if shareholders do not accept the Offer and Focus does not reach compulsory acquisition thresholds (which includes a 90% relevant interest in Crescent) they will remain a minority shareholder in Crescent. The possible implications of being a minority shareholder include:

- Focus being in a position to control the composition of the Crescent Board and senior management, as well as the strategic direction of the company;

- The liquidity of Crescent shares will be significantly reduced as a result of the low free float in Crescent shares thereby exposing shareholders to greater volatility, less institutional support and limited analyst coverage of Crescent;

- If the number of Crescent shareholders is less than that required by the ASX Listing Rules to maintain an ASX listing then the ASX may suspend and / or de-list Crescent. If this occurs shareholders will not be able to sell their Crescent shares on-market and the price which they may be able to obtain for their shares may be reduced as a result.

Acceptance forms have been provided to shareholders. Shareholders who hold their Crescent Shares through CHESS can instruct their broker to accept the Offer on their behalf.

If you have any queries in relation to the Offer, please do not hesitate to contact the Focus Offer information line on 1800 648 622 (toll-free within Australia) or +61 2 8256 3377 (international) between 9.00am and 5.00pm (AEST), Monday to Friday.

Campbell Baird
Chief Executive Officer
Focus Minerals Limited
Ph: +61-8-9215-7888

Mark Tory
Managing Director
Crescent Gold Limited
Ph: +61-8-6380-7100

Neil Le Febvre
Investor Relations
Focus Minerals Ltd
Ph: +61-8-9215-7888

http://www.focusminerals.com.au

Major Crescent (ASX:CRE) Shareholder Accepts Focus Minerals (ASX:FML) Takeover Offer

newsroom@abnnewswire.net — Wed, 10 Aug 2011 09:22:00 GMT

Focus Minerals Limited (ASX:FML) is pleased to announce its relevant interest in Crescent Gold Limited (ASX:CRE) (TSE:CRA) has increased to 62.12% after receiving acceptances from Deutsche Bank (NYSE:DB) for its remaining holding in Crescent.

On 20 June 2011 Focus and Crescent announced that they had agreed to merge by way of an off-market takeover offer for Crescent by Focus. The Offer consideration is 1 Focus share for every 1.18 Crescent Shares, representing a 30.5% premium based on the closing prices of Crescent shares and Focus shares on 17 June 2011, the last trading day prior to the announcement of the Offer. The Offer opened on Thursday 30 June 2011 and has been extended to close at 7.00pm (AEST) 31 August 2011 (unless extended).

The Crescent Board has unanimously recommended that, in the absence of a superior proposal, ALL CRESCENT SHAREHOLDERS SHOULD ALSO ACCEPT THE OFFER. The Crescent Directors have all provided acceptances in respect of shares held or controlled by them in respect of the Offer.

The Offer received the support of Crescent's major shareholder Gulara Pty Ltd (a wholly owned subsidiary of Deutsche Bank AG), which on 17 June 2011 entered into a pre-bid agreement for 19.99%1 of Crescent Shares. Deutsche Bank has now provided acceptances for its remaining 8.48% holding.

Acceptance forms have been provided to shareholders. Shareholders who hold their Crescent Shares through CHESS can instruct their broker to accept the Offer on their behalf.

If you have any queries in relation to the Offer, please do not hesitate to contact the Focus Offer information line on 1800 648 622 (toll-free within Australia) or +61-2-8256-3377 (international) between 9.00am and 5.00pm (AEST), Monday to Friday

Campbell Baird
Chief Executive Officer
Focus Minerals Ltd
Ph: +61-8-9215-7888

Mark Tory
Managing Director
Crescent Gold Limited
Ph: +61-8-6380-7100

Neil Le Febvre
Investor Relations
Focus Minerals Ltd
Ph: +61-8-9215-7888

http://www.focusminerals.com.au

Focus Minerals Limited (ASX:FML) Increased Relevant Interest over 50% in Crescent Gold Limited (ASX:CRE)

newsroom@abnnewswire.net — Wed, 3 Aug 2011 09:28:00 GMT

Focus Minerals Limited (ASX:FML) is pleased to announce it has received acceptances for its takeover representing a majority of the issued shares of Crescent Gold Limited (ASX:CRE) (TSE:CRA). Focus' relevant interest in Crescent has increased to 51.32%, which now places Focus in a very strong position with the prospect of a rival offer emerging considered very low.

Focus has advanced $6 million of the $10 million working capital facility and further drawdowns are scheduled to be advanced in early August. The loan is repayable in full in the event the shareholders do not approve the conversion of the loan at the shareholders meeting on 18 August 2011 and also in the event that a superior proposal concludes.

On 20 June 2011 Focus and Crescent announced that they had agreed to merge by way of an off-market takeover offer for Crescent by Focus. The Offer consideration is 1 Focus share for every 1.18 Crescent Shares, representing a 30.5% premium based on the closing prices of Crescent shares and Focus shares on 17 June 2011, the last trading day prior to the announcement of the Offer. The Offer opened on Thursday 30 June 2011 and closes on 15 August 2011 (unless extended).

The Crescent Board has unanimously recommended that, in the absence of a superior proposal, ALL CRESCENT SHAREHOLDERS SHOULD ALSO ACCEPT THE OFFER. The Board members have all provided acceptances in respect of shares held or controlled by them in respect of the Offer.

The Offer also has the explicit support of Crescent's major shareholder Gulara Pty Ltd (a wholly owned subsidiary of Deutsche Bank AG (NYSE:DB)), which on 17 June 2011 entered into a pre-bid agreement for 19.99% of Crescent Shares. Deutsche Bank has also informed Crescent that its intention is to accept the Focus offer for its remaining 8.54% holding no later than five days prior to the end of the Offer period, subject to there being no superior proposal.

Acceptance forms have been provided to shareholders. Shareholders who hold their Crescent Shares through CHESS can instruct their broker to accept the Offer on their behalf.

If you have any queries in relation to the Offer, please do not hesitate to contact the Focus Offer information line on 1800 648 622 (toll-free within Australia) or +61-2-8256-3377 (international) between 9.00am and 5.00pm (AEST), Monday to Friday.

Campbell Baird
Chief Executive Officer
Focus Minerals Ltd
Ph: +61-8-9215-7888

Mark Tory
Managing Director
Crescent Gold Limited
Ph: +61-8-6380-7100

Neil Le Febvre
Investor Relations
Focus Minerals Ltd
Ph: +61-8-9215-7888

http://www.focusminerals.com.au

Crescent (ASX:CRE) Directors Accept Focus Minerals (ASX:FML) Takeover Offer

newsroom@abnnewswire.net — Tue, 5 July 2011 13:27:00 GMT

Focus Minerals Limited (ASX:FML) and Crescent Gold Limited (ASX:CRE) (TSE:CRA) are pleased to announce that Directors of Crescent now have all provided acceptances in respect of shares held or controlled by them in respect of the recommended off-market takeover offer for Crescent ("Offer").

Focus is offering 1 Focus share for every 1.18 Crescent Shares, representing a 30.5% premium based on the closing prices of Crescent shares and Focus shares on 17 June 2011, the last trading day prior to the announcement of the Offer. The Offer opened on Thursday 30 June 2011.

Directors Accept

In keeping with their view that the Focus Offer provides an attractive outcome for Crescent shareholders, the Crescent Directors have now accepted the Offer in respect of all Crescent Shares that they hold or control.

The Crescent Board has unanimously recommended that, in the absence of a superior proposal, ALL CRESCENT SHAREHOLDERS SHOULD ALSO ACCEPT THE OFFER.

Crescent's Managing Director, Mark Tory said: "We are delighted to be able to provide this attractive opportunity to Crescent shareholders, and look forward to a bright future as part of one of the ASX's most prominent gold companies".

Support of Deutsche Bank AG (NYSE:DB)

The Offer has the support of Crescent's major shareholder Gulara Pty Ltd (a wholly owned subsidiary of Deutsche Bank AG), which on 17 June 2011 entered into a pre-bid agreement, undertaking to sell 19.99% of Crescent Shares into the Offer.

In addition, Deutsche Bank AG's has stated an intention to accept the Offer for the balance of its holding, approximately 9.24% of Crescent Shares, in the absence of a superior proposal.

Offer Documentation and Acceptance Forms

Mailing of the Bidder's Statement and Crescent's Target's Statement will be completed today. These can be viewed on www.focusminerals.com.au and www.crescentgold.com.

Acceptance forms will be provided with the Bidder's and Target's Statements which shareholders should receive shortly. In the meantime, for those shareholders who hold their Crescent Shares through CHESS, you may instruct your broker to accept the Offer on your behalf.

If you have any queries in relation to the Offer, please don't hesitate to contact the Focus Offer information line on 1800 648 622 (toll-free within Australia) or +61 2 8256 3377 (international) between 9.00am and 5.00pm (AEST), Monday to Friday.

Campbell Baird
Chief Executive Officer
Focus Minerals Ltd
Ph: +61-8-9215-7888

Mark Tory
Managing Director
Crescent Gold Limited
Ph: +61-8-6380-7100

Neil Le Febvre
Investor Relations
Focus Minerals Ltd
Ph: +61-8-9215-7888

http://www.focusminerals.com.au

Focus Minerals Limited (ASX:FML) Release of Bidders and Target Statements for Recommended Takeover of Crescent Gold Limited (ASX:CRE)

newsroom@abnnewswire.net — Thu, 30 June 2011 09:48:00 GMT

Focus Minerals Limited (ASX:FML) and Crescent Gold Limited (ASX:CRE) (TSE:CRA) today released their Bidder's and Target's Statements for the recommended off-market takeover offer for Crescent ("Offer"). The Offer was announced to the market on 20 June 2011.

The Offer has very strong support from the Crescent Board, which has undertaken to accept the offer in respect of any Crescent Shares held or controlled by them and has unanimously recommended that, in the absence of a superior proposal, all Crescent shareholders should also accept the Offer. Furthermore, the Offer has the support of major shareholder Deutsche Bank AG (NYSE:DB), which on 17 June 2011 entered into a pre-bid agreement whereby it has undertaken to sell 19.99% of Crescent Shares into the Offer. In addition, it stated at that date its intention to accept the Offer for the balance of its holding in Crescent Shares in the absence of a superior proposal.

Focus is offering one Focus share for every 1.18 Crescent Shares, representing a 30.5% premium based on the closing prices of Crescent shares and Focus shares on 17 June 2011, the last trading day prior to the announcement of the Offer.

"Focus has a very experienced management team with proven development and mine operation capabilities," Focus Chairman Don Taig said. "Focus will apply this operational expertise to the development and production, and exploration, of Crescent's and Focus' assets to maximise value for all shareholders."

The merged business will be one of the Top 5 ASX primary listed gold producers with targeted annual production of 230,000oz, a combined resource base of 4.3 million oz of gold and outstanding growth potential in Laverton, Coolgardie, Widgiemooltha and Lake Cowan - all major gold producing regions.

Crescent's Managing Director Mark Tory said; "We are delighted to be able to provide this attractive opportunity to Crescent shareholders, and look forward to a bright future as part of one of the ASX's most prominent gold companies."

Mailing of the Bidder's Statement and Crescent's Target's Statement will be completed in the coming days. These can be viewed on www.focusminerals.com.au and www.crescentgold.com and under the ASX codes of Focus and Crescent. The bid will close on 1 August 2011, unless extended.

Campbell Baird
Chief Executive Officer
Focus Minerals Limited
Tel: +61-8-9215-7888
http://www.focusminerals.com.au

Focus Minerals (ASX:FML) Announce Takeover of Crescent Gold (ASX:CRE)

newsroom@abnnewswire.net — Mon, 20 June 2011 09:37:00 GMT

Focus Minerals Limited (ASX:FML) and Crescent Gold Limited ("Crescent") (ASX:CRE) are pleased to jointly announce that they have agreed to merge the companies by way of a conditional off-market takeover bid by Focus for all of the issued shares in Crescent ("Offer").

The Crescent Board unanimously recommend the Offer, and intend to accept the Offer in respect of their Crescent holdings, in the absence of a Superior Proposal.

The transaction will make Focus one of Australia's Top 5 gold producers with targeted annual production of 230,000oz, a combined JORC resource base of 4.3Moz of gold, and outstanding growth potential across two major Western Australian mining regions.

OFFER DETAILS

Focus and Crescent have executed a Bid Implementation Agreement ("BIA"), under which Focus agreed to make the Offer. The consideration being offered to Crescent Shareholders is one Focus share for every 1.18 Crescent shares, which represents a premium of 30.5% to Crescent's closing price on 17 June 2011.

The Offer is subject to customary conditions, including the following:

- Minimum acceptance of 90%;

- No Material Adverse Change; and

- No prescribed occurrences.

The Offer conditions are set out in Schedule 2 of the BIA in Annexure C. Full particulars of the Offer will be provided in the Bidder's Statement.

The transaction has the support of Crescent's major shareholder, Deutsche Bank AG (NYSE:DB) who has agreed to accept the Offer in respect of a 19.9% stake in Crescent pursuant to a Pre-Bid Agreement with Focus.

At the closing price of Focus shares on 17 June 2011 of 7.7 cents per share, the Offer represents an offer price of 6.5 cents per Crescent share, representing a premium of 30.5% on the closing price of Crescent shares on 17 June 2011 of 5 cents per share, a 29.10% premium to the 5 day volume weighted average price ("VWAP") of Crescent shares of 5.1 cents per share and a 20.75% premium to the 30 day VWAP of Crescent shares of 5.4 cents per share.

The Offer will be extended to any Crescent shares that are issued during the Offer period as a result of the exercise of Crescent options or conversion of convertible notes on issue before the Offer opens. However, Focus also intends to enter into private treaty arrangements with Crescent option holders to acquire their options in exchange for Focus shares on a ratio determined by reference to the respective exercise price and expiry date of their options.

TRANSACTION HIGHLIGHTS

The Boards of Focus Minerals and Crescent Gold consider that the combination of the two companies will provide significant strategic and financial benefits to both sets of shareholders:

Mr Campbell Baird, Chief Executive Officer of Focus Minerals said: "The merger of Crescent Gold and Focus Minerals provides a unique opportunity for both businesses to fast track their growth aspirations making Focus one of Australia's Top 5 gold producers.

"Once this transaction is complete this creates a strong platform for both companies' shareholders to benefit from a substantial value uplift from a significant increase in combined production, a doubling of gold resources, and the ability to step up exploration within Crescent's extensive landholding", Mr Baird said.

Mr Mark Tory, Managing Director of Crescent Gold said: "The Board of Crescent Gold considers the transaction to be a compelling opportunity for Crescent Shareholders to capture a premium for their shareholding and become part of a major new Australian gold producer. Post-acquisition, Crescent shareholders will be part of an entity with an exciting production and exploration growth profile, strong balance sheet, diversified asset portfolio, and a strong track record in mine operations."

Key compelling benefits for both Focus Minerals and Crescent Gold shareholders include:

- Creates a Top 5 Australian Gold Producer - With a targeted annual production of 230,000oz in 2012 and outstanding growth potential across two major Western Australian mining regions, the combined company will become a top 5 Australian gold producer.

- Proven Track Record of Mine Operation - Focus has a deep management team with proven development and mine operation capabilities, having recommissioned the Three Mile Hill processing plant 18 months ago and opened two new mining operations in the last three months. Focus will use this operational expertise to maximise the value of Crescent's assets.

- Significant Resource Growth Potential - The combined group will have a very significant JORC Resource inventory of 4.3Moz. Both the Laverton and Coolgardie regions have demonstrated the opportunity for significant resource growth on targeted exploration programmes. Focus brings the immediate funds to accelerate exploration at Laverton, with strong group revenues providing a basis to fund further exploration to expand group resources.

- Strong Operating Cash Flows - The transaction will create a combined group with very strong anticipated operating cash flow.

- Valuation Uplift - The implied EV/Resource ratio of the combined entity is A$66/oz which is a 39% discount to the ASX listed gold producers average of A$107/oz, implying a significant opportunity for a revaluation of the combined group.

EXCLUSIVITY ARRANGEMENTS AND PRE-BID WITH CRESCENT SHAREHOLDER

The Board of Directors of Crescent has unanimously recommended that, in the absence of a Superior Proposal all Crescent shareholders accept the Offer, and all directors intend to accept the offer.

Pursuant to the BIA, Focus and Crescent have agreed customary exclusivity arrangements, including "no shop" and "no talk" provisions. The BIA also confers a matching right on Focus.

Focus has entered into a pre-bid acceptance agreement with Crescent's major shareholder, Deutsche Bank group, which through its wholly owned subsidiary Gulara Pty Ltd owns 29.23% of Crescent. The pre-bid agreement is in respect of 19.9% of Crescent. Separately, Focus has also been informed by Deutsche that its present intention is to accept the Offer in respect of the remaining 9.33% of Crescent shares it holds, no later than five days prior to the end of the Offer period, subject to there being no Superior Proposal. Deutsche Bank has no obligation to accept the Offer in respect of the remaining 9.33% stake and may dispose of these shares to a third party at any time.

LOAN & WORKING CAPITAL FACILITY ARRANGEMENTS

In May 2011 Focus provided a $3 million secured loan to Crescent which upon shareholder approval will turn into a convertible note. Once approved, that convertible note will be convertible into Crescent shares at the conversion price of the lower of $0.05 and 85% of 5 day VWAP of Crescent shares, with 1 free attaching option for each two shares provided.

In addition, on 17 June 2011, Focus provided a $10 million working capital facility to Crescent, which subject to shareholder approval, may be converted into convertible notes. These convertible notes will be convertible to Crescent shares on substantially the same terms as the May 2011 convertible note.

INDICATIVE TIMETABLE

The indicative timetable in relation to the Offer is set out below.

- Monday, 20 June 2011: Announcement of Transaction
- Monday, 4 July 2011: Focus lodges its Bidder's Statement with ASIC and ASX and serves it on Crescent
- Monday, 4 July 2011: Crescent lodges its Target's Statement with ASIC and ASX and serves it on Focus
- Thursday, 7 July 2011: Joint despatch of Bidder's Statement and Target's Statement
- Thursday, 7 July 2011: Offer Opens
- Monday, 8 August 2011: Close of Offer (unless extended)

OTHER MATTERS

Focus' corporate adviser is Hartleys Limited and its legal advisor is Mallesons Stephen Jaques. Crescent's corporate adviser is Gryphon Partners and its legal advisor is Blakiston & Crabb.

For the complete Focus Minerals announcement, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/545870.pdf

Campbell Baird
Chief Executive Officer
Focus Minerals Ltd
Phone: +61-8-9215-7888

Mark Tory
Managing Director
Crescent Gold Limited
Phone + 61-8-6380-7100

Paul Armstrong / Nicholas Read
Media Relations
Read Corporate
Phone: +61-8-9388-1474

Hartleys Limited
Grey Egerton-Warburton
Head of Corporate Finance
Phone: +61-8-9268-2888

Gryphon Partners
Greg Martyr
Executive Director
Phone: +61-2-9252-3242

Neil Le Febvre
Investor Relations Manager
Focus Minerals Ltd
Phone: +61-8-9215-7888