Mulac,long ago i gave up worrying about what markets value...

Mulac,

long ago i gave up worrying about what markets value things at.
whether,its when i go shopping at the supermarket,buying property or shares.

I have my value and buy at my price,if it subsequently drops by 30% because there's a glut of whatever on the market,i don't get upset,but may stock up.It happens at the supermarket,with property,every 14-20yrs and stocks probably every second year.
A large percentage of my holding here is down by more than 10%.
That is life as they say.

FML is cute
FML has a culture and looks for double returns on what it does.
It takes pit overburden and builds up its tailings dam with it,instead of creating a pile-the right thing to do at $3.2m
It doesn't just buy site tailings from others like NGF to fill its mill,but opens pits for the feed.
It doesn't just open pits for lowgrade feed,but to get depth to get at higher grade ore below.

CRE investment is just that,an investment,so currently others own 18%.Have a good look at competitors operations near to Focus's,they are not all fully owned either-so what?
To put it in perspective it is 1/4 of FML equity and 1 of 4 producing operations.The difference is FML shareholders didn't stump up ANY CASH for its shareholding(other than its loan and legal expenses),others have.

TI is currently pie in the sky,much as the Mount was 2yrs ago,i don't dispute.

So FML as a hunter started knocking off sheep,moving up to cows and is now heading in the drection of wilder things,beyond its own size.
Cre was a weakened version of a younger FML,but much larger in size,so now onto bigger things.Elephants,what's so unusual about that,GIVEN THE WAY THE COMPANY HAS GROWN and its willingness to THINK BIG?

As to FML's slogan ,i too can remember laughing at japanese company's and their silly company songs and there crappy toys.
Oh with hindsight as they say.My camera's a japanese brand,printer and laptop,although all made elsewhere.That's the power of having a transferable way of doing business.

I see that here---scaleability and transferability.

If others can't.Then i get the advantage equivalent to buying the first reliable jap car at 1/3rd the price of a ford or holden,without the heavy maintenance and gas costs and still get to sell it for more than i paid for it 10yrs later.

DYOR+DYODD long may we all see the world differently.