Good evening all,“Bought Treasure Island and proceeded to gloat...

Good evening all,

“Bought Treasure Island and proceeded to gloat that it was another Golden Mile and St Ives based on a few high grade chip samples.


Not quite true. More like a well-recognised geologist said it looked similar. The same geologist who was called in to look at SIR when they wanted some expertise. Also, lest we forget that those very same rock samples generated interest to raise apx. $40 million.

By chance some of that $40 million went into acquiring CRE – the CRE you talk about here “Mounted takeover of Cresent, spruiking superior management and gloating about >200koz/pa. Score 7/2.”--------------

Now that $40 million amongst other things was spent looking closer at CRE assets AND exploring Lake Cowan – which found on Cowan the largest area of geochemical hits ever for an anomaly (anywhere on the planet as far as I know) – and it sits waiting for diamond drilling now.


Now if the cricket match ended there you might be looking ok calling it a bad innings ------------ however,

Just like in real cricket - if this is a bad innings, you should see the other team(s).

Times have changed – dramatically. Companies are falling over at a huge rate of knots and assets are laid out like presents under a xmas tree. Don Taig says “It’s a smorgasbord out there”

How many companies now can take advantage of this? ----------------------------- 2 -------------- one of them is FML.

Why? ----------- Because it was cashed up by Shandong with $225 million dollars when companies could barely raise a sweat let alone a dollar. They also bring funding capability - a massive wallet, if we desire it.

So Treasure Island raised $40 million, had some development and we grabbed CRE.

So now guess why Shandong got excited by FML/CRE? ------------


The two very things at the top of the prize list for Shandong ----------------------- ARE -------------------------- Treasure Island AND Chatterbox shear.

So $40 million became $225 million ------------ straight from Treasure Island to Chatterbox shear -------------------- the two very assets which you consider bad cricket actually puts FML right up the front of the queue and in the box seat ----------- front row for the smorgasbord!

Now, how are all the other teams going? ------------- well, if they have to raise money soon ----------------------------------- they ARE the smorgasbord! If they have to raise in the next year or so? Probably the same outcome.

If we had not have had those moves we had ----------- like them or lump them ----------------- we would probably be on the block as well --------------------

So how is our innings looking now?

Well to me – I would rather be very much where we are now – high grade ground laid out for the picking – with luck we mightn’t even have to drill – certainly as much. -------------- or, we could have been like the rest of the companies ---------- waiting for the axe to fall.

This cricket match is not a one dayer – don’t make that mistake. This is a full on lengthy test competition ----------- only thing is – it is a knockout competition – and fml is rock solid at the moment whilst the competitors fall limply around it -------------------------- luck? Management? Who gives a toss ----------- the chips are falling ---------------

I still believe FML has stars written on it ------------ when we look back in a few years it may seem miraculous – we will see the stuffups and we will see the serendipity – but, the stars will have the say and at the moment – right, wrong or indifferent -------------- fml is very much a front runner ------------------- luck favors the brave – and god knows this has taken guts to stick with so far.

Have a great night all

Pinto