The ugly duckling is becoming a swan, page-5

SNM, thank you - it was a pleasure to read your thoughtful, clear and very encouraging post. I agree that we are seeing some definite signs that the patient strategy of the new directors and management is paying off. We are seeing some support for this view in the rising share price since the AGM. As you say, the big step will be when they resume production. When that occurs, I believe the market will view Focus in a very different way - as a gold producing and exploration company - and will price the company very differently.

The other stages you mention are down the way a bit, but will also be very significant, depending on the margin able to be achieved in production and the success or otherwise of exploration. If some of those explorations come off the company will change again into a considerably larger and much more profitable business.

It has been a long wait, but I see many signs of hope at present, including the attitudes of the board and management.