FML 3.33% 14.5¢ focus minerals ltd

Sometimes my comments are critical but I have little trust in...

  1. 47 Posts.
    lightbulb Created with Sketch. 32
    Sometimes my comments are critical but I have little trust in the board and feel for good reason.
    This is from FML's web page headed.
    (Background on Focus)
    Today Focus has one of the strongest bank balances of any gold explorer in Australia, a strategic partnership with leading global gold producer in Shandong Gold. Show me the money, Not true and only if SH continues its funding??
    Focus has a proven track record in gold discovery, development and production.That is true, but was all before SH took control as of Jan 2013
    Example: In 2011, Focus expanded its presence in WA through the takeover of Crescent Gold acquiring the Laverton Gold project which it successfully turned around at a time of strong gold prices to produce over 100,000oz of gold in its first full year under Focus’ management control. The acquisition of Crescent enabled Focus to leapfrog its organic growth path, quickly doubling the company’s Mineral Resources to 4.3Moz, tripling Ore Reserves and growing its landholding to over 1,650 sq km of highly prospective tenements across two of Australia’s largest gold mining areas producing over 475,000oz of gold from Coolgardie and Laverton.(Thats why it was worth its share price at the time)
    Move forward a few month's into 2013. Lead by a SH controlled board, Focus took the strategic decision to suspend mining across all its operations in order to preserve cash in the business and shareholder value in the ground. Rubish they spent it all and more. Focus is using this period to reset the business, taking into account the experience gained from the commencement of Focus’ gold production. Well they got it wrong bigtime.The Gold price did hiccup for a period, but as we know it rebounded back to record highs while the SH lead FML board sat on its hands having to replace amateurish directors back to China.

    https://hotcopper.com.au/data/attachments/6165/6165008-6783d33d7074397478c508ea8b9d0f05.jpg
    I feel the directors wanted exploration rather than production even though they were dwindling their cash reserves and wrecking the share price. Meanwhile the price of gold was rising. If they had of refurbished Three Mile Hill back in 2016 and into full production imho with so few shares available because of the consolidation the share price would be inexcess of SH buy in price of $ 2.50.
 
watchlist Created with Sketch. Add FML (ASX) to my watchlist
(20min delay)
Last
14.5¢
Change
-0.005(3.33%)
Mkt cap ! $41.55M
Open High Low Value Volume
14.5¢ 16.0¢ 14.5¢ $7.357K 49.13K

Buyers (Bids)

No. Vol. Price($)
3 16900 14.0¢
 

Sellers (Offers)

Price($) Vol. No.
15.0¢ 20000 1
View Market Depth
Last trade - 15.46pm 24/05/2024 (20 minute delay) ?
Last
15.5¢
  Change
-0.005 ( 6.90 %)
Open High Low Volume
14.5¢ 15.5¢ 14.5¢ 14685
Last updated 14.44pm 24/05/2024 ?
FML (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.