The 'cheap mill' is an interesting part of the equation, and I'm wondering what plans FML have for its future utilisation.
Are they going to refurbish and utilise the mill in situ, move it to another location (Lake Cowan?), or sell it off.
Somebody suggested that it would not be a proposition to move the mill all the way to TI, but I can recall examples of mills being moved from northern WA to Adelaide (HGO), and from WA to Indonesia and South America, to save money on the cost of a new mill.
My guess is that FML have a very definite plan for the mill's future, and it might well be the icing on the cake for FML holders, and a loss for CRE holders, because it looks as though very little value has been apportioned to the mill. (I'm on both sides of the FML/CRE fence, so not greatly affected)
FML Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
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