I think your optomism is soundly based. When FML only had 50% of Coolgardie, share price went as high as 13c for memory, and mining had not started. Anything below 10c is a bargain IMHO. Most of our old gold mines were very shallow, and I guess if little drilling was done below 100M, then little historic mining was deeper than that. Focus has drilled very few holes deeper than 200M vertically, and with most areas drilled open at depth, and in some cases along strike, more drilling is liable to discover more gold. South African gold mines are as deep as 5 miles, which is about 8000M. What is in the 7800M that has yet to see a drill bit?
These opinions are not advice, merely examining history, and posing questions.
DYOR
K
fml investment case, page-13
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Last
13.5¢ |
Change
-0.008(5.26%) |
Mkt cap ! $40.83M | |||
| Open | High | Low | Value | Volume |
| 14.0¢ | 14.0¢ | 13.5¢ | $5.052K | 37.40K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 67803 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 31855 | 3 |
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| FML (ASX) Chart |