high costs - and how fml might become viable, page-11

morning,

"I agree on the Admin. It is a joke and they did have unrealistic expectations. This I believe is being addressed at the moment by Don Taig. Will it happen overnight. No. But the starting gun was fired with the CEO stepping down. "


yep, from what I hear DT has been on the warpath and I suspect Paul Fromson is leading the charge -------- it probably will show up next quarter I suspect.

I like the idea of cutting out unnecessaries - sometimes the bub goes out with the water though - hopefully that doesn't happen much.


"The $11m exploration budget for next quarter has been defended in these forums but I wonder when you spend money that fast ($44m pa annual run rate!), how much is wasted? "

On that one I don't have many concerns - our programs have been a long time in concept and most a long time in design stage ----------- so I doubt if there will be much waste - but lets face it, it is a mining company and there will always be some.
Dean has at least one new geo - and I think that will take a bit of pressure off - that should allow him to rack up a lot more miles on projects - he is not adverse to spending money - in fact if he was my kid, I would watch his credit card like a hawk -------- that said, I think he spends it well and very well targetted. I just can't get away from his record of finds ------- well, most of our people in fact.
That really is a big change for fml - we have had serial mine finders for quite a while - but they have been pretty well handcuffed with limited funds - now the budgets are much greater - so lets see what they can really do. For my money, give em what they need and a bit of what they want and let them off the leash.

Bang for the buck is more important if there is not massive wastage - and I think they have already attacked that months ago - to me it is no coincidence that all drilling stopped not long after P Fromson appeared on the scene - maybe coincident, but I think not.

From what I hear they are pretty much all happy with the way things have been pulled into line.

Results are what will count though and I guess we just have to painfully wait to see the progress.

I can put up with the wait - I just wish the bloody sector would hit the bottom - changing a company, growing a company - all of that is hard enough, but when you have to swim against the tide at the same time - bugger.

I hope deano is forced to release some results from TI soon - the bugger will never tell you anything - but has said if he gets any halfway decent intersection at TI he will probably have to release on the first result - being a new gold find.

There should be some results from assay in the near future - well, anytime really --------------- fingers crossed.
Just a sniff of good news would be nice.



have a great day all