Ann: FML March Quarterly Report and 5B , page-57

hi

so much emotion.
I have a question we should ask ourselves about FML?
is this company going under ?

from what I read in the quarterly, they have 20m in hand another 10m in loan facility and unhedge.

Will we have another CR ?
i think not

Why did the cost went up?
Because they had some problems in the underground mining. so what we would have preferred to miss production target or higher cost.

this is what i feel management is guilty of,
1. They have concentrated their efforts on turning CRE around and neglected their own mine.

2. Over extension on expenses, we keep complaining why are you spending so much, but we fail to realise we will still need to spend eventually.

It seem mgmt s to expend in anticipation of a higher POG. Right wrong we still do not know.

My biggest concern is not the operation of the mine, is at this price we may get a hostile TO. and we SH will get scraps.

I am very uncomfortable at today SP, but on FA can anyone tell me why will this mine go under.

At 45/46 everyone is in the red, i sometime wonder in the last 1 year who have been buying ?
why has they been no change in sub holders?

Thinks guys.