Ann: FireFly appoints highly experienced Director, page-23

I’ve held NST since about $3.6 so know the story well. Yes it cost them a motza so far but now it is under control and pumping out cash. If they continue to have these margins this will eventually be a net gain. You need to spend money to make money. The belief that you can buy a failing mine and spend nothing on it and immediately have a turn around is insane. Let’s not forget Pogo was a producing loss making mine and it takes time to turn things around. Pickle Crow doesn’t have this drag because it’s just sitting there waiting for economic resources to be discovered. For FFM they are going to explore and hopefully find more Oz at Pickle Crow. This ground produced 1.5m Oz at a profit might I add. If the GP continues to climb the economics become attractive again to mine the rest of what is there even without a resource upgrade from exploration. This is something NST was fortunate enough to happen to them in the early days regarding the GP and same goes for RMS (I’ve been following them since 10c).

Personally I hold FFM for the exploration upside and if copper/gold increases in price and adds extra fuel to the SP fire that is an added bonus. The management team are of a proven success building pedigree so this de-risks things further in my opinion.

Fingers crossed Pickle Crow eventually pays us dividends in the form of mining it or selling it, I personally don’t care which avenue they go down so long as it makes me money ;-)