Brexit, Gold and Focus, page-32

Some time ago I prepared a spreadsheet which set out, for each of the ten or so ASX-listed gold miners (explorers and producers), the following details: mine locations, number of issued shares, share price now and 1 year ago, book value of assets, market capitalisation, debt, resource ozs, processed ozs, net profit, net profit per share, dividend history (if any), franking percentage and, for those paying a dividend, share price as a multiple of dividend. Thanks to the internet, that information is fairly readily available. I do not include that spreadsheet as it is now a bit out of date but it is sufficient to say that it firmed my views about FML and convinced me that there is a rational basis for a higher share price. Unfortunately. there are still shareholders who bought before the price went down (a) when the gold price declined, and (b) when the processing was mothballed. I hope it is not too long before they are smiling. Plus, on any objective analysis, we must give credit where credit is due to the positive contribution of the Shandong people.