Yes Papertigger, that's right.
From the Mar09 quarterly, 40k oz production is now projected for FY09 which follows 50k oz projection only 3 months ago in the Dec08 quarter. Previous projections for FY09 include 54k oz in the Sep08 quarter and 65k oz in the Mar08 quarterly.
Also, didn't they reveal their "$64m strategy" last March from which $16m was to be used to refurbish their plant and $13m for Coolgardie development? Now 12 months later, if I understand correctly, they have raised another $28m to refurbish the same plant and develop the same near-by deposits???
Maybe I'm just confused. I sold FML a long time ago and only keep half an eye on it.
Rowingboat.
Ann: Quarterly Activities Report , page-7
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