throw us a bone, page-23

Gents and CW,

those words cash raising make me feel sick.

To do so at anything less than 30c a share is/will be destructive to ongoing shareholder wealth IMO.

Most holders here,even with averaging down hold shares at the best part of 5c or more.Even a miniscule sum raised at near current values,would be disastrous to shareholder wealth.

I'm here for my future wealth,not to lay down and be prey for the vultures that pick on the weakness of management(a bit hypocritical here as i like being on the other side too).

Whatever FML does now has to be done from STRENGTH.
the greatest strength it can have NOW-IS CASH IN THE BANK
and a quickly rising share price to nearer 10c for a start.
Opportunities mentioned as expected later in the year,will require that cash too.

So FML management have to start bringing it on.For a start they needed $35 m to accelerate into pits.That capital expenditure should be now beginning to show as cash in the bank.Already some is showing spent as exploration and new pits.

Start bringing home the bacon at $20m free cash a QTR and the capital costs of the future will be easily taken care of.

The only DOWNSIDE is they always mention Laverton first in all communication.Too much of the Focus is elsewhere to where current cash profits are really being generated.

It comes down to the make-up of the 55k oz produced this QTR
and if most comes from Coolgardie,costs there will be killed.

If the other way around,then Coolgardie has failed to live up to its much vaunted promise as a mining centre.

My vote is that McFocus has one Shop fully in order and humming nicely,now with 450km tenements in Coolgardie,up 25km? since last mentioned and the other getting site the McFocus make-over.

Time will tell,but if anywhere near $20m free cash is arriving ongoing,this is a very powerful business.
However with $69m budgeted expenditure this qtr,that looks unlikely.so between 50-55k at 1550 average= $77.5to 85.2M income,is $8-15m at best.

This increase in CNX takes Coolgardie defined resources to near exactly equal to laverton, ounce for ounce and grade for grade.

Very interesting in itself,the need to get that restated/balanced before the end of the year.Makes it easier to compare both operations and point to the exact similarities.The stages in the development of both operations,with laverton being now,as Coolgardie was,prior to reconditioning and operating its own mill.

DYOR+DYODD