yeah i feel for you getting tied up with these guys from pre IPO...

yeah i feel for you getting tied up with these guys from pre IPO days ! how are the huge salaries and free shares these inner circle PTR guys are paying themselves for cruising along part time ! It was clearly not within their best interest to "hit the ground running". Every single project has taken 3 to +4 times what would be thought industry standard and as such they are spending a huge amount of money relative to what has actually been achieved. Love it how retail value gets absolutely trollied at the same time as the PTR insiders all getting free shares and substantial salary increases... its like these things are inversely correlated.

As for Neil Marston, i dont know him, probably a top bloke, who knows. Ive no facts surrounding this but surely Neil is a mate of the PTR guys ? why else would you give someone a part time gig at $382,500 pa (pro rata what ever, incl undisclosed 50% ST bonus) plus millions of free shares plus LT bonuses (of course also undisclosed), when they have a proven record of share holder / company value destruction. the facts are undebatable. Neil assisted with the IPO of Horseshoe Metals (HOR) at $0.20 July 2010 and was MD straight away. He left the company Oct 2015 with a share price of 0.017 so minus 91.5%... .Next, with Bryah Resources, he became MD Oct 2017 when BYH was $0.17 and left that position in Dec 2021 with BYH at $0.05, This was better, only minus 70.5% over the time he was in charge. Yet Flynns Aug 2022 appointment announcement states "we look forward to Neil’s proven leadership driving the Company’s strategy forward.” ...I am probably missing something "proven leadership" ? and :"driving the companies strategy forward" ? FG1 share price down a lazy 30% since Neil started adding to presentations, going on a few junkets and visiting tassie a few times. But the board loves it ! promotes him and gives extras. I do however agree with them that he is driving the companies strategy forward, its basically a strategy to extend things out as much as possible.

I read somewhere one of the highlights of Neil expertise is his extensive WA experience. In WA, Flynn Gold, for no apparent reason, took a full 12 months to start a simple soils geochem program with results back months later released 27 Oct 2022. It surprized me a bit that a geological technical director (former MD - retained MD salary and benefits of course) couldn't analyse a simple, small soils geochem data set ? weird, but i guess its easier to call a consultant to do it, prob get the same money with pretty much no effort. Anyway, according to Flynns time line, and noting Neils local contacts and knowledge / experience - they have next boots on ground in Q4 2023 - so basically a minimum of 11 months before thinking about any additional follow up work - on a prospect very proximal to Hemi, with low tenor anomalies, in a strong, near $2000 gold environment, not to mention very little activity on any of the other WA plays. latest quarterly did say they had done mapping with sample assays pending in SW WA but as long term investors know, that is no guarantee of ever hearing about the prospect again (if results are poor - eg Dec Qtr 2021 Mangana mapping and sampling program has disappeared, never mentioned again. I find it unlikely assays are still pending after +16 months. Continuous disclosure is interesting with Flynn Gold, maybe they are exempt from them. Either they didnt sample and map the area as stated eg lied to the market, or they have the assays and dont feel like they need to announce them. Same with the 1190m of diamond drilling started March 2022 at Portland. they say its still being logged but latest quarterly doesn't mention it, so it might be they are hoping the market just forgets about the half a million or so dollars (at a guess) the program cost.

It is obviously completely unbelievable that logging only 1190m of core takes 13 months. again, only a few scenarios, the drilling never happened, they logged it but hit nothing and dont feel the need to update the market and are pretending to still be logging it, or, they didnt bother logging it.

Further, its interesting, in Tassie, it is a requirement that a full literature review be done within your tenement application to Mineral Resources Tasmania. So this was done on all tenements including the west coast base metal ground. but havent Flynn only been doing a lit review on the west coast ground ? why have they taken 22 months of listing to do something they had in 2015 ? I know for sure another detailed review was done around 2018 when they drilled the Grieves Deposit and again by a consultant in around 2019. Why would a company step up and drill a prospect without reviewing the other possibilities within their ground ? Makes very little sense hey. The Grieves deposit has a non jorc resources estimate, former holders went all the way to economic scoping study stage. It is mostly zinc oxide so has metallurgical challenges. Flynn knew this and in the prospectus pg 52 they said they would do a whole host things, none of which has been reported on. Yet they say they have spent $101.000 on Henty ?? on what ? Without having an answer (apparently) on the metallurgy program, petrography,. trenching the prospectus said would be done last year ect ect, they are discontinuing work on it and moving straight onto the Myrtle and Maraposa sulfide targets (only just discovered apparently). I wonder why you would close off the area of investigation you started years ago and jump over to something else with out knowing the answers if the project will work of not ? did they get results and they were unfavourable ? as we are aware, Flynn dont really do continuous disclosure so i guess investors may never know. Myrtle and Mariposa (type them into the Mineral Resources Tasmania search docs, even if you have never used MRT sit before, its easily accessible - what Flynn highly paid staff has taken years to discover, you can read in 30 minutes) both have estimated resources of around 500k t each. Maraposa is a historic mine from surface into shallow underground, in two loads that are both open at depth - clearly walk up drill target. Myrtle was drilled AC by CRA who suggested a 500kt resource pretty much from surface with many AC holes stopping in sulfide mineralization. Both prospects are dominated by low Fe sphalerite. I guess the company will announce this when ever it suits them.

I wonder why Flynn would choose to wait 2 years after listing to do any work on the west coast when its clearly so prospective, and has been known by Flynn to be prospective for many years ? Whats more, why would anyone choose to plan drilling the the middle of winter ?? fair chance if its a wet winter, this program will be delayed imo which would work out well for flynn management, can easily just do it later, maybe next year. everyone still gets paid !

In rant conclusion, Flynn Gold management is not just unlucky with the market being totally uninterested in the stock. If anyone researched them, why would any new investor take a risk with a company that continually behaves like this, everything delayed, choosing to operate in such an opaque way ? I say its not unlucky, the prio private company, PTR also spun out a Cu company listed in london, they have done next to nothing after listing (tricking retail again) 0 the IPO started at 5p now 1.1p in a little over 12 months so only 78% down where as we should be happy, FG! management getting paid huge, free shares, part time hobby while FG! currently down 64% from IPO and down 28% from their recent 10c raise. so they are certainly on top of things if the goal was to pay them selves heaps and destroy share holder value...

long long way back to gain any semblance of market trust with these guys. Even the little work they have actually done has so many holes in it / incompletions. Like i guess many retail holders, i am waiting for the next short term spike to get out. the good thing about lifestyle companies is at some point they will all want to cash in. anyone's guess when but likely / for sure imo after June 17 when their main holder is out of escrow is a time i am watching out for. classic if there is massive liquidity out of no where or they might be saving up some announcements for then also.

PS any FG1 fans sincerely good luck. please do correct anything i may have written you think is incorrect. It would be great to hear a bull case with evidence of capability for them to actually increase the value of this company. cheers




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