Ann: March 2024 Quarterly Activities Report, page-42

Calidus Resources also had $100M in debt and did a number of capital raises to get their production up

CAI is a lot smaller and with lower grade 36.8Mt @ 1.28g/t for 1,51Moz. CAI MARKET CAP IS $100million

The only difference is that they had Macquerie and others funding and squeezing them. They have been doing refinance for a while/

FML has Shandong funding them for over a decade and that won't change. Once in production at name plate FMNL can repay that in 6 quarters.

FML company could produce 10000 ounces this quarter at higher grade and lower cost. Turn a profit and noone should be surprise about that.

As I said, do you believe that this are going to get better or worse?

I believe it is going to get better because most of the expense are behind us, thus I am buying.

Once again, go and find another producer the gold regions that can be brought into production in 2 years with:

Laverton Gold Project has 74.2 Mt @ 1.7 g/t for 3.98 Moz.

Coolgardie Gold Operations Mineral Resources = 46.17Mt @ 1.85g/t for 2.74Moz

Let's talk again next quarter