Hi,
For those who have been FML shareholders for a long time, I feel you have had faith in FML coupled with lots of frustration. That has certainly been the case for me. I have always considered Focus to have an outstanding ground position, and was pleased when TI was added, and also CRE ground. I have been invested in Focus since before FML were toll treating at Greenfields mill. It has never been a smooth ride, and I strongly believe FML have always been dangerously under capitalised, and have sailed very close to the wind numerous times, and have been close to "going to the wall" several times too. I hung in there, because the management have my trust, and have demonstrated for all to see their ability to keep us afloat, and expand, always an uphill battle. For those who don't recognise how difficult it is to transition from an exploration hopeful, to a gold producer, I suggest you do some DYOR. You will doubtless find an alphabet soup of failures no longer on the ASX from your DYOR. Focus have survived against the odds IMHO, due to our BOD and management.
I have been petrified that we would be taken over by a hostile party, especially after a major discovery. I don't doubt Don and others on the BOD were similarly concerned about this, hence Don's long stated aim to find a cornerstone investor.
Whilst there is much angst about the deal for 51% under consideration, I welcome such a commitment, after considerable due diligence by Shandong. Shandong have run their tape measure over FML's tenements, assets, management, and personnel, and are impressed enough to want to invest a quarter of a billion dollars with FML, with the current shareholders' permission. Shandong identified FML's archilles heel, under capitalised! They see a sound business opportunity in investing in FML's assets and people, and in doing so make FML an extremely strong entity, to the benefit of all shareholders. Shandong trust FML to use their money wisely, and multiply their investment.
I will be at the meeting voting YES in person. An extremely strong FML which is takeover proof, with a cornerstone investor who does not want so sell a single share is a position from which FML will be built into a mining house of International repute IMHO.
For the committed NO voters, please consider the alternatives, and be very careful of what you wish for. Picture the feeding frenzy if a vulnerable (We've been vulnerable from day one IMHO) FML have a maiden resource from TI for example.
Don Taig has done us proud IMHO, and we shareholders should salute him for his tireless, outstanding efforts.
Whilst I strongly disagree with the NO voters, I respect their right to a different view than mine. I would appreciate alternative path proposals from any NO voter which demonstrate how to make FML NOT vulnerable to vultures once we are announcing we're finding multiple elephants!
Three Cheers for Don Taig!!!!!!!!!!!!
DYOR
K
PS: I am NOT and never have been a FML employee, nor have I been paid by FML to post on HC!
K
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