Hi,
With out SP in the gutter I can understand the angst some fellow holders are experiencing.
Mr market may not see FML in a good light ATM however the whole gold sector is poorly regarded by Mr Market it seems.
I do not credit the market with infallible valuing and pricing of anything. Remember the dotcom bubble where Mr Market attributed ludicrous values to stocks that had no revenue, no profit, a hopeful business model, and today delisted?
FML have grown from an exploration hopeful/ production wannabe to the fifth largest gold producer in the country, and by doing so have proven to my satisfaction that their exploration methods are very sound, and their management very sound.
Yes, our management are not perfect, merely human, however stack up very well IMHO with the management of our peers.
From my extensive DYOR and DD I believe FML have an outstanding tenement package which was enhanced significantly with the aquisition of our position with CRE. This tenement package contains enormous blue sky potential which IMHO FML will explore very much to our advaqntage.
Whilst I am NOT overjoyed with the current SP, I don't blame management. FML are a work in progress which IMHO is proceeding forward at an impressive pace.
With rigs turning and burning at Coolgardie, Laverton, and TI it is a matter of time only before positive or hopefully sensational drill results are reported.
Stone were quick to engage lawyers in the early days of the CRE takeover. Their total silence on the legal front with CRE set to delist on Monday suggests a deal has been done that Stone are happy with.
Now is the time IMHO to apply a little more patience, as we watch this great story unfold. My shares in FML are NOT for sale for less than 20 cents, at which point I'll sell a few, and hold the rest.
DYOR
K
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