fear equals flight, page-4

Say what you like, but FWL is in the highly speculative class.

A long way to go, no money, and a lot of capex required for stage 1.

Compare it to AXO which is also getting beaten. AXO has everything that FWL has at Yalgoo, but a bit behind with the drilling. It is but a sideshow for AXO.
AXO has cash, commitments, huge sales locked in, not much capex, other products, a second stage.

If you have a good look at AXO, you will see what FWL is really worth at this stage. F all.