aggressively expanding into a falling gold $, page-54

Fitty, I'm not missing your point, I'm disagreeing with your point. You say FML are expanding through cashflow. I say what cashflow?, they are expanding through capital raising after capital raising. I think in the last decade FML have diluted at a staggering rate of 50% per annum. That's not good enough.

You say they can reduce costs if they need to, well now is the time! I'd like to know where you think they can reduce costs?

Exploration as you know is just not about finding more ounces. It's sometimes about finding the ounces they already claim to have. Resource statements are very conceptual in nature and evaluation drilling is needed to quantify the grade and tonnage before mining. Most Development costs are ongoing.

The likes of BHP, RIO, NCM have a strategy of buying large long life, low cost, high margin mines. It's a strategy that sees them through the tough times and a reason they are household names. FML decided it would buy a cheap low margin mine into a rising gold price. That's nothing more than a punt!

This market is looking ominous. Our leading gold stocks were sold off heavily today. Big retailers are getting smashed at the slightest downgrade or even just by association. Investors have the jitters and FML need to show us the money.

Be careful out there.