Hello IceyDoctor, In the interest of balance - a lot of negative...

Hello IceyDoctor,

In the interest of balance - a lot of negative posters here lately! Hope I have that right so ask specifically for positive comment. To your questions:

1. I believe the giant capital markets from Chinese banks - massive syndicated loans are only open to future plans if 51% is achieved. Remember Europe is drying up in this regard we are in a credit crisis so this seems appealing to me.

2. It is not just about the 5c when you can get a long term player to assist with so many aspects of the business. The picture is much bigger no matter what your valuation! It is more a question of how we realize potential and when.

This is a lot of money and it takes all sorts of pressure off FML, they can go ahead with LCowan and not fear being stolen by a major and split up. They can drill and even develop Nepean and have an off-take partner that will not take a disproportionate share of the profit like BHP would for smelting here.

They can refurb Barnicoat to sort or smooth cash flow issues - supply BGSM or both mills and even expand 3MH mill to gain economy of scale and lower cash cost. Of course operational cash flows will still add but the combined cash and income will enable Reserves and development and exploration of higher grade deposits to bring into the LOM plan.

And remember Aussie and other global investors value FML lower and some investors in here even happy to sell below 4c. DB been selling and may be close (data courtest of Derham et al.)

Compare all that with little raisings every 8 - 12 months that disrupt SP runs as money is raised at a discount. It slows our mamentum and no guarantee these types of investors are long term - none prepared to commit.

3. DB has been selling and so have quite a few retail investors - I am not certain about the rest of your question however I think you are looking for reasons as to why capital is risk adverse - it looks at short term and investors often want to see the runs already on the board rather than looking at the team and their game and extrapolating the outcome.

If any of my extensive efforts assist just one poster to make money or hold for benefit then it is all worth it. I have a great deal of work coming up and may be far less frequent here for a while but I will do my best. I still want to quantify a few items in the financials.

Good luck to you - cheers,
CW
DYOR&DD