alacer and fml?? australian newspaper, page-21

Hi bazza, I'll agree that you were right in your pessimistic view about the FML SP, and about some of the decisions made in the past being somewhat unwise. However, I don't share your pessimistic views about FML's future from hereon. And posting the suggestion that FML will make more unprofitable acquisitions does your case no favours. What is your basis for that suggestion?

The past as far as FML is concerned has little bearing on where the company is now heading, and I for one believe that we will see a much bigger and stronger and yes, a profitable FML, within twelve months.

There has probably never been a more propitious time for a gold mining company with a strong balance sheet to acquire some attractive assets at a very favourable price.

And I believe that FML are better placed than most companies in terms of cash holdings, geographical location of current assets, and strong backing from a major successful gold producer.

Maybe your pessimistic view will be proved right. But I'm outlaying more cold hard cash on a much more optimistic view of the company's future.

By this time next year we'll probably have a clear view of who is right.

And by the way, I hope that I have never made any derogatory comments about you in any of my HC postings. If you feel that I have done so, I apologise. I do sometimes wonder why you bother to keep posting about FML when you don't hold shares in the company, but I prefer to comment about the company and not about other posters.

Cheers,
Mike