its pretty exciting, until you get on the ground and take a look over the tenemants you may not realise exactly how big this could be. As we know theres multiple minesites scattered around and the land inbetween is also prospective, much will depend on the work from these drill rigs but with an 8million budget i think we will have a pretty good understanding of how big this may get by the end of the coming year.
Hopefully it won't take long for the mill to get filled and yes they may well need to build another but the great thing is the way they have their plan worked out it should all be self funding.
Would they take over Matsa? i'm not too sure, although i didn't raise the question I doubt this would be on their agenda, Matsa seem to be focusing somewhat on offshore mines, if you look at the way they were formed Poli seemed to aquire KAL (and thus MtHenry) as part of a backdoor listing of his offshore projects. With the size of the FML coolgardie potential I don't think FML would want to divert resources offshore at such an early stage. The agreement already inplace makes sense though, with 3mile hill there why would an offshore focused Matsa build a plant when they can free up cashflow by toll treating through Focus but these are just my thoughts and we'll see how that eventuates on both sides.
cheers Davo
FML Price at posting:
5.7¢ Sentiment: Buy Disclosure: Held
