sentiment and old posts

afternoon all,

Just to let some of you know that my recent lack of appearance isn't anything to do with losing faith in fml - indeed it really is the opposite. I am continuing to buy and I am very comfortable with the investment - most know that I don't expect a return for a couple of years. I am very much buy and hold person.

I did say that the quarterly didn't read well - but digging below the surface I am fairly happy with the way things are.
I do not believe we will have such a large cash drain this quarter - I would be concerned if that happened, but I believe there were just so many one off costs last quarter and a hell of a lot of dirt shifted with no gold in it in preparation for future production.
We did have some slowness in Mount dev. and thats a bugger, but if that is the worst that happens in the history of the company I will be very happy. I am not concerned at all at the costs of dev. the pits. I am also not concerned at all in the investment in cre.

I am amazed at the sentiment against cb for talking fml up! For many many months all I have been hearing is how we (fml) understate matters ------ at the bottom is an example from our friend kal (sorry kal, you were the first one I found, and I am not picking on you at all) - there are many many more in the forum history calling for positive spin.

As far as I can see CB listened - and now, when we have a quarter where we should have known there would be additional cost -------- we react and say he shouldn't have been spinning us up????????? Well, I'm buggered if I know what we want cb to do.

From my chair and others who I regularly speak with - including a couple in the top 20 and occasionally in the top 10 ---------- nothing has really changed (and btw, they are all buying right now and last week as well - my guess is that this is a change from weak hands to strong)------- sure we are a little more risky with cre --------- but many were calling for rapid growth and taking a bit more risk ------- well, we have got it.
And imo, it is under control.
As to cre itself, it is my belief that things are good - we only moved in there some months back and it sounds like several changes have been made and progress is good. I said to blairbart that we should realise that there was already 300k tons on the pad way before the dec. campaign started - and that cost was in the last quarter - this proves 2 things - 1. the operation has got delivery of ore down pat (very different to previous operation) and 2. - obviously that cost would lob in our last quarter -- without response from the profit line - that will come in this quarter.

I will stop short now even though I could talk for hours about what I see as positive for fml - and yes, I am torn both ways with the sp - it gives one a warm feeling to have a rising sp - but also, as the price descends it also brings opportunity. I am continuing to buy not to average down or anything like that - I am continuing to build my position because I have strong faith in the future for the company.
I firmly believe that if the pog does anything like we think it will do or even stays where it is - at the rate fml is growing when the board decide that it is time to reward shareholders - then the size of the reward will be stunning.
If I am wrong, so be it - but until then I will continue to back us strongly.

Below are some posts I found from the past - I hope you find them interesting.

have a great night

Pinto
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ps, 1 last thing - for those of us who were continually calling for institutional investment - please learn a lesson from what happens when people like DB sell out - I have always doubted the wisdom of having institutions on board - the recent selling should convince some that my concerns are real. You are far better off have a strong cheer squad in your top 10's and 20's - we are much friendlier :) even if we are painfully positive.




reiner 14/01/11 -

" I just remember a couple of stocks that I tossed in frustration (not at a loss,mind you) just to see them sky rocket 6 months later (just mention 2: LYC and BYL !)

so - learnt my lesson:

if my gut told me to buy them (because of fundamentals!) learn to hang in there!!!!!"



pinto 14/1/11
" I am not a newbie - and I can tell you one of the hardest things to do as an investor or even as a trader (but more-so as an investor) - is to reenter a stock that you have got out of at a far cheaper price.

Eg. if you were in at a price eg. 3 or even 6 and out at say 8 and then the thing leaps to 20 - it is dammed hard to buy back in at 20 psychologically.

So the easy way as an investor is to stay in and ride the bumps - not necessarily with a full hand - but always have something in.

Imagine if you are out and we have some drill results come in from TI which just are out of this world (that happened only up the lake from TI a few years back).

The market might just go ballistic (it may not - but it would certainly move) -- how would you feel?

Take it from me - sick doesn't even begin to describe it.

fml will always put people in pain - no matter what it does - if we the cheer squad are correct - there will be much beating out of brains from those who got out before a rerating - and for those of us who are in, if per chance fml just doesn't move - we will cry over lost opportunity.

I can only defer to one of the true greats - Jessie Livermore who was very very firm on saying that staying in is the hardest thing to do when you know you are right but other buggers are saying you are wrong and the sp stubbornly won't move up -- BUT - it is where fortunes are made.

One thing I am very confident of with fml is this - there is minimal downside risk. You may miss opportunities if the cheer squad are wrong - but also you may miss the buy of a lifetime if we are right."



kal
13/8/10

" Those involved in sales have a saying:"you sell the sizzle not the sausage"
IMHO FML are selling the sausage, not the sizzle. Serial under promising and over delivering is honest and ethical, however does not do justice to the share price.
My sentiments re FML fundamentals have been posted on several previous occasions, so I won't repeat them in this post.
Look at FML's recent BRR and video presentations, and ask yourself "Would I buy a used car from this guy?".
Recommended reading for FML's spin department, assuming we have one, would be "Propaganda" by Edward Bernays. This is the textbook on spin doctoring, as it outlines the methods and philosophies of manipulating public opinion. Edward Bernays is Sigmund Freud's nephew coincidentally.
FML has highly talented and visionary technical people who have concieved and delivered a profitable gold producer, with excellent upside potential. These same people unfortunately are not as skilled at promoting our brand, which is after all a totally different discipline.
IMHO we need a charismatic, spin savvy public face to promote FML, and get the share price above the 9.2 cents valuation Carmichaels put on FML pre Treasure Island."