gob smacked, page-34

Hello Isladar,

I was inclined to not answer your post however you don't post often and really do seem to be a good person - like most are. It was not a nasty post in any way nor a stir for the sake of it - I take it as genuine so here is a comment and you can take it or leave it.

I have stated that I could not buy more FML shares once I went over to WA on this tour - as I knew I would be looking at what the market might not be able to see. This is because news is always old by the time it is printed. Quarterly reports are even more out of date. Yet the information is all written on this story in recent presentations prepared by Neil LeF.

FML are not an explorer that needs to 'post' every time they get a drill rig in place - look at RRL. This is not our problem here. The truth is there to read yet people cannot visualize what is really happening on the ground unless they see it - and guess what - neither can I, well not nearly as clearly as when I do get to see it and talk to the people in charge of each area of the operation.

This "FML + CRE story blind spot" may be a function of a lack of expertise and it may also be a function of a lack of looking hard enough. Mining can be confusing to most, much harder to understand than a corner store so I do not judge at all. Keeping this really simple - this is what I am looking at, hope it helps somebody.

MOST IMPORTANT: I am looking at the current operations of FML and CRE not the share price at this time.

These two things do not necessarily work in lock step. Share price does not have to match the operational progress over the short term, at times like the last 12 months they can even go in opposite directions. It will over the longer term and I cannot prove that at this time. This is obviously my view. Provided you do your DD correctly and invest in a sound business the share price will rebound. If not you can lose the lot - this is the "game" you are playing.

I have been right for 11 years about gold and 8 years about silver however this is no guarantee I am right about the future now. This is not a disclaimer I am being sincere, I could be wrong. I believe I am right however, this is just as sincere. We all take our risk and benefit or suffer for our own actions and decisions. You can buy FML at 6.5c and sell at 4.8c I cannot do any thing about that because you pull the trigger. You might buy at 5c and wait for 20c, that would be a better idea and you will keep the money if you get this right. These are undated options - shares - so I hope you buy smart and hold until you can sell smart too. I want to see you use the market to your advantage.

Not only do I consider that FML + CRE are currently undervalued as a group - I also consider that the company will grow organically and increase operational cash flow very significantly. I see an increase in production, mill expansion in Coolgardie in future. I see an exceptional exploration opportunity and the capacity to fund development at Lake Cowan. I see CRE as a winner and that FML are or will very soon be cash flow positive from this investment. All of this will result in large profits - yes EBIT and net profits too - and dividends once it makes sense to do so. I see a rising gold price.

When sentiment returns to 'positive' on the gold sector, on a strong rise in gold, FML will do extremely well off the back of the operational and financial improvements I mention above. I hope you do well Isladar, and make fantastic decisions.

Cheers,
CW
DYOR&DD