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Originally posted by BAGM:
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We shut down Greenfields because the grade was low, erratic, and unpredictable, in addition there were severe production problems with the adjacent FMR gold plant due to safety issues. There are now problems with lease boundaries in particular M 15/1836 which the current owners of Focus sold to FMR when its lease expired in 2016. Also it would be necessary to do a deal with the owners of ' Location 59'. Location 59 is called a special lease as it is privately owned with special land rights dating back over 200 years. You can check out the real story by simply downloading the tenement outlines of M 15/1836.kmz (FMR) and M 15/154.kmz FML from the WA Dept. of Mines, Tengraph program into Google Earth, zoom to the town of Coolgardie where you can see the lease outlines and the pits, waste dumps, gold mills and associated infrastructure. The Greenfields pit is located in the middle of M 15/154 adjacent to the SE boundary of M 15/1836 and 'Location 59', As you can see on Google Earth that in order to expand and deepen the pit, it will be necessary to move the FMR plant and do a deal with the owners of Location 59. In addition there is the problem of moving part of the Three Mile Hill waste dump for expansion to the NE. These problems make the economic viability of resuming mining of the Greenfields Ore Body at best, highly unlikely if not impossible. Focus has stated that the reinterpretation of the previous ore body model was done In 'House' by Mr. Aaltonen and that he is not qualified as a 'Competent Person' to sign off a 2012 Jorc Reserve Report. In order for Focus to restart production of gold there are a few other "minor" problems like refurbishing a gold plant that has not been maintained since 2013 which at that time required an additional $10-15my to remedy a number of serious problems. It also appears that their 'pliant' issue is another 'minor' problem considering that the court has knocked back their exemption applications. These court cases are very expensive and there is some question as to wether they have the capital to address their problems and restart production in Coolgardie. Those of you who think Brilliant is the salvation should take note that there are serious overlapping tenement problems with Horizon regarding Brilliant as Rose Hill and Brilliant are one continuous ore body. Then there are problems with the Town of Coolgardie as North Brilliant is within a stones throw of the town boundary, and of course there is the battery which is Heritage listed and Cold corp controls the surface rights adjacent to North Brilliant which underlies it. Most of their current reported capital is tied up in tenement bonds and the word is Shandong have turned off the tap. Then there is Laverton, the 'Focus' of Focus which at this stage of development will see production commence possibly within the next 5 years.
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Sounds like Fml has alot of issues to address first before any production starts , they better start before the wet season but I don't think that will happen any time soon unfortunately , I still can't believe when shandong took 50% of fml and focus received $225 million cash in 2013 , they have less than $10 million left what Hell did management burn $215 million on and no gold production , that is a bloody lot of money for drilling and a few upgrades and care and maintenance wouldn't have cost that much , they must be paying all the contractors and staff a bucket load of money
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