20c comp..when?, page-21

Champ

"They did have 8 mill from proceeds from borrowings though which makes the figures look a little better? Not sure where the proceeds are really from though?"

the loan is drawdown on a loan provided by FML. (read up on this if you dont know about it - it is important. It gives FML an opportunity to get to 90% of CRE and trigger compulsory aquisition). The loan is also part of the FML expenditure for the Q.

"What doesn't make sense to me is that they quote that they were able to get $1600 for each ounce of gold but when you add up the total gold sales which is 21915 and times it by 1660 you get 36,378,900? "

They recieved $8 mill from the sale of gold after the end of the quarter so it will appear in the next quarter.


There is so much to FML that people cannot glean from throwing their eye over the quarterly numbers.
They are just a little growing gold miner, spending everything they can for now. I think they are spending wisely though and setting up for a good future if the gold price holds.

Have fun researching :)