$450m in equity wasted, FML have spent the last decade drilling holes so I’m not sure what you’re expecting with new results.
The book value has $120m in exploration and evaluation assets built in. It reminds me of the 80s advertising for the Aero bar…..
https://m.youtube.com/watch?v=Y3Dm0j_iWjk
Bubbles of nothing that make it something
or in Focus’s case, holes of nothing that makes up most of its balance sheet
Ann: AGM Presentation, page-34
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