For a supposedly low production quarter , They had positive cash flow of over $27M for the quarter so no reason to piss any banks off .
Guess they are trading at a PE of 2 but no one seems to care - (welcome to be corrected on the PE it does seem awfully low ) and now life of mine seems to be increased another few years .
Maybe FND could reduce sovereign and single commodity risk by getting a green/brownfield project back in Australia , would also have potential tax deferral advantages by robbing Indonesian Peter to pay Australian Paul.
A project back in Australia even a JV may also reawaken punters who FND is and there current very low PE , think of the lithium and cobalt plays with no production but bigger caps than FND that could do with a partner to reduce shareholder dilution, and bring on board mining experience going forward .
FND Price at posting:
24.0¢ Sentiment: None Disclosure: Held
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