I really think the number of shares is a godsend. Why so? Because this is one very liquid stock. It is one of the few stocks that are the real deal, ie. fml is deadly serious about being a class gold mining company - who cares how big it gets as long as it is quality. You don't have to be bhp to make a lot of money.
The large number of shares draws in short term traders who are a double edged sword - when the price goes up, they sell for a quick profit, hence driving the price down etc. - you all know the story.
But I argue that for investors, those who are really dinkum at staying with the company - this gives a great opportunity.
Keep a solid base of shares that you just won't part with but have a smaller but sizable holding that you trade along with the shorties.
Fml is so liquid and fairly predictable that this is one of the easier stocks to do this with - and if you ever get the timing wrong - all you have to do is wait a while - and you are waiting in a stock that you are fully confident in holding - pretty good thing in a market time such as this.
Also in a big picture economy/market/world wise - is there anyone who is 100% sure we are ok or that we are going down the gurgler - I doubt it ------- these are historic times - and what better time to hold a young and growing producer.
Even if the pog tanked - fml management skills and agressive drilling and no debt etc etc - will most likely see us through almost anything foreseeable. Management have this company positioned beautifully at present.
If there is a bad black swan (extreme out lier)out there - then other than a load of physical in the backyard - I feel very comfortable with fml and a couple of others. I think they are backup extraordinaire.
As to the number of shares - it mightn't look so silly in 5 years or so - in fact it might look just right. Particularly if you have been a holder and accumulator for a few years.
Have a good day Pinto
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Last
16.5¢ |
Change
0.005(3.13%) |
Mkt cap ! $47.28M |
Open | High | Low | Value | Volume |
16.0¢ | 16.5¢ | 16.0¢ | $3.25K | 20K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 9159 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
16.5¢ | 120650 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 9159 | 0.155 |
1 | 25340 | 0.150 |
1 | 479241 | 0.145 |
2 | 23627 | 0.140 |
2 | 41138 | 0.135 |
Price($) | Vol. | No. |
---|---|---|
0.165 | 120650 | 2 |
0.175 | 11067 | 2 |
0.180 | 4002 | 1 |
0.190 | 31322 | 1 |
0.195 | 102564 | 1 |
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