all out for 4

I believe that Focus Minerals is like a cricket team that is all out for 4. A discraceful batting performance (management decisions) by the board. The first run they scored was to clear the debt and hedgebook about 4 to 5 years ago. Score 0/1.
Employed CB as CEO. Score 1/1.
Cut costs by stopping diamond drilling and jumbo development underground at Tindals. Score 2/1.
Refurbed the TMH mill without sustainable reserves. Score 3/1.
Tributed The Mount out for very little risk. Score 3/2.
Believed low grade stockpiles were economical to mill. Score 4/2.
Ended tribute agreement (The Mount) and believed in bigger is better. Score 5/2.
Bought Treasure Island and proceeded to gloat that it was another Golden Mile and St Ives based on a few high grade chip samples. Sold the idea to the masses and caught out most shareholders. Score 6/2.
Mounted takeover of Cresent, spruiking superior management and gloating about >200koz/pa. Score 7/2.
Reviewing The Mount and still believing that, being $20m down, it was still viable. Score 8/2.
Bulls hitting to Shandong and robbing them blind of $225m. Score 8/3.
Cutting costs again by stopping drilling and not paying creditors, which increased costs and severly hamstrung the business going forward. Score 9/3.
Ousting CB. Score 9/4.
Blaming the gold price for the losses in the March qtr, when it fell in April, and the price they received was the same as the price average for all last year ($1600/oz). Score All out for 4.

I fail to understand the logic of some posters here that have believed that FML was something better that a speculative play that has gone sour. Perth management and the Board have consistently failed in delivering positive results. By basing decisions on the egos and b/s of Perth Management, the "head in the sand" Board have only themselves to blame for this rout. DT can gloat about his finger on the pulse now he is the acting CEO, but, blaming others (onsite) for his and the rest of the Boards mistakes makes me furious.

To the current shareholders, it's your choice on whether to buy, hold, or accumulate. The question you need to ask yourself is "Whether you trust the current management with your money?". I believe preservation of capital is the most important rule with investing. Others believe in profits and make huge losses in trying to get them.

With 9 billion shares out there is the company ever going to have a market cap of $1b to make the shares worth 11 cents. I would suggest that most of the shareholders would maybe double their money at that price at best. Not a great outcome for a speculative hold. Let alone a poorly managed spec hold.

That is my rant and views on FML, and may you all have good day.