Good points as always. I'm still not convinced with the LM3 story. I've mentioned LM3 a few times and get the same answer. Blaming LM3 for the low SP is a cop out.
LM3 dumping worked in SD's favor by allowing SD to double it's holdings at low levels. Retail had and still have the same opportunity to buy at this level.
In today's market, given the POG is at all time highs, with the amount of activity in today's GOLD sector, are you telling me that there is NOT ONE investment firm interested in owning LM3's parcel of shares? Wouldn't it be in FML's best interest to find a cornerstone investor? Wouldn't FML want a higher SP to deter another T/O?
And should LM3 continue to dump at this rate, the RETAIL is not enough to pick up the slack. This could take another 10 years for this to end. We really need the assistance of a whale or a damn good mighty announcement for volume.
Why hasn't the board addressed LM3? Are the board that naive they can't feel SH's frustrations?
Do we know if FML/SD made attempts to reach out to LM3? How about TGM - they just proposed a FULL take-over for FML and ended up with circa 2.5%. How much do LM3 want for their parcel of shares OR are they prepared to continue to dump at these levels and why? Are they expecting a ROI and at what price? Pushing the SP down isn't really helping if they are hoping for let's say $2.50. What is LM3's average price?
Why would FML allow LM3 continue to be a thorn? This has been 10 years in the making, a MAJOR EVENT for FML, and the stars could not be more aligned.
Someone posted that LM3 have approx 13m shares which would equate to $3-4m (subject to SP 25-30c). This is not an unreasonable amount to buy them out and own a slice of FML. Again speculation because we just don't know how much they want? Do the LM3 estate want out OR chasing more? Everyone has a price right?
Current and past interested party's:
- TGM is now a Major SH
- Horizon Minerals (HRZ) and Hanking Gold Mining (HK listed) bidding for Coolgardie in Sept 2019
- Stone Mining/Stone Resources (ASX/HK listed) still listed as a Major SH
Let's take Stone for instance, listed as a Major SH since the Crescent/FML merger dating back Aug 2011. Are they just like the rest of us, waiting for a miracle? I am assuming they have deep pockets, why don't they increase their holdings with buying LM3?
Who wouldn't want to be in Coolgaride or Laverton today - especially when FML owns almost the lot. Gold, Copper, Nickle, Lithium, Silver, etc.
I am so sorry but it just doesn't make sense - something is missing.
(20min delay)