why fml is a fitnfam buy---ssssshhhhhh, page-16

Doesn't NEED consolidation,

market capital is what matters, not share price (share price only reflects market capital)

Market capital of $150m at 5.5c or at 55c doesn't make a difference. Moving from 150m to 300m is a 100% return it doesn't matter if it moved from 5.5c to 11c or 55c to $1.10, its all the same.

When will it happen?.. Production for this year set to be 100,000 ou, using $1200 as sale price per ounce and $800 as cost that will be a $40m profit, market cap of $150m ? (doesn't make sense, when these figures are released, share price should go up to account for a good p/e ratio.. of more than 3.75) using a ratio of 10 (which is also quite small) the market cap should be $400m, which equates to about 14.5c.

Also consider that:
1. Current gold price isnt $1200, is in fact $1350+ and predicted to go higher

2. $800 cost per ounce is a rough estimate using last years costs, which i'm pretty sure included one off costs which made it seem like a high cost per ounce (should be lower this year)

3. The defined reserve is another thing holding back share price currently, though Treasure Island results should continue to give investors confidence that FML will have a substantial resource to take them well into the future.