I agree 100% with the highly prospective ground they have but...

I agree 100% with the highly prospective ground they have but yeah super weird way to go about creating value for share holders...

assay debacle taking months and months (up to a year) to receive results, blames a lab they weren't even using
takes over 12 months since listing to get on the ground in the Pilbara, one of the hottest Li and Au districts going. claims they are thinking about an air core program some +18 months minimum after listing, somewhere in WA, provides the market with no detail (carrot on a string at best)
proves they can receive assays back in 6 weeks from start of drilling in Tasmania if they want to but
takes 4 1/2 months (ongoing) to drill 1000m at Portland - blames broken ground conditions
starts 1300m of RC drilling 22 days ago with no update on completing it ? RC 100m a day should be considered a bare minimum achievable meter rate. If they are achieving 4 or 5 meters a shift DD, i wonder what their RC rate will be ?
Has JORC resources on their west coast Tasmanian tenements and very highly prospective base metal ground but doesn't tell the market about them, instead takes over 12 months to start and have a look at the area (desk top study only), no on ground field work. Drilled a prospect as a private company with prospective estimated resources of 1.9Mt @ 8.7% Zn of primary sulfides - over 12 months on after listing, zero follow up
Doesn't attend or present at any industry conferences to promote the company instead opting for paid webinar interviews from their Melbourne office... tells who ever their audience is they've made a great start and how good they are doing
Gifts one of their employees, provides no information but presumably senior geo or exploration manager over 800,000 shares for free to reward them of good performance ??
spends over 1/2 of their IPO funds with share price languishing below 50% with next to zero trading liquidity.

Market seems to be pricing FG1 as a shell with no assets which actually seems fair enough all things considered thus far. In my opinion, the assets they have should actually be priced at multiples of their current market valuation. Trouble is, the market doesn't trust this management largely because of the above track record of glacial progress and list of excuses. This is not only a strange way to add company value but equally a strange way to build managements industry reputation, which surely is fairly poor because of this effort / lack of effort.

The drilling they have done at Golden Ridge have come up with really good results, far exceeding industry hit rates for what is essentially a green fields play. ~8kms of Au anomalous prospective strike discovered with really good mineralization hit in drilling in a majority of their holes to date. This project alone should be valued at least double FG1s current valuation.

If Flynn had hit the ground running on listing on their Pilbara ground and been fortunate to discover and map pegmatites and or discover Au anomalies near hemi, their market cap would be at least 2 to 3 times or more of the current value.

If Flynn actually told the market about their west coast base metal exposure in Tasmania, put a presentation on that together and had managed to start field work to follow up on the many open high grade historic drilling / resource estimates, their market cap on these projects alone may justify a 2 or 3 times uplift to what it is now...

One could easily assume from the above "successful start" of doing as little as possible, that management here have no idea what they are doing. I personally don't think this is the case. I think the directors are just working part time on it and treating FG1 as a private company. There seems to have been no push at all to get programs underway and completed in any sort of efficient time frame. Of course there will be challenges but i'd prefer companies seeks solutions rather than make up excuses that the market can by and large easily identify as such. There has clearly been none to limited active promotion to attract any decent size investments into this. I mean look at any asx listed explorer valuation with Li exposure that has actually done some field work. I cannot seem to find any that have performed as poorly lately as FG1. I think this will change as they ramp up into next year. Who knows what their motivations are but its worth noting their main investor ( who these directors worked for in the pre-curser private company) still has their shares in escrow until mid next year and until then, i think retail have to just suck it up and bottom draw this while these guys tread water and gift themselves shares.

Great projects and anything can happen but piss poor management effort so far and as such, as far as market confidence goes at least, its a long way back from here

all in my opinion only.