are people really aware?, page-75

afternoon all, hi infose,

just a couple of things from you last post.

" Therefore, when FML invested in CRE it had to incur a cost, an opportunity cost. But the funny thing is that when I mentioned that you where the first person to criticize me. "

Did I criticize you for that? Apologies if I did. I certainly did say some things about opportunity cost - but mostly what I hear in fml mutterings about opportunity cost - comes from traders or self professed investors who talk about lost opportunity (cost) by sticking in madam who refuses to budge north. They think they could well do better somewhere else.

Now, whether they could or couldn't isn't relevant to me - what I have said is that if I had a crystal ball then of course I would be out of madam and into something else and get back in just before she comes out with a big announcement.

Problem is - I don't have a crystal ball and madam is now so complex and dynamic that she could march into the room riding a mammoth or come up with some stunning drill results from multiple sites or come up with some furry little rabbit out of any of her multiple hats -------------- at any moment.
I don't trust her one inch.

Now on top of that almost every single successful investor I have read says that it is the waiting that makes you the fortunes ----------- do your research, back yourself in, bite off as much as you can fit in your gob and chew like mad - and wait.
The words 'opportunity cost' don't even get a mention in their book, let alone the chapters on how to make a fortune.

One thing I definitely/partially agree with that you wrote -
"The problem imo is that if the expectations about a raising gold price do not materialize the whole story may well turned out to be one of the worst investment decisions that FML could ever have made."

Yes, I believe this whole fml/cre thing is a punt on a rising price --------
That is where the fortunes will be made.

However, I believe that if the pog stabilises around here we will still make a lot of money.

If, per chance the price goes south and we have seen the top - different story.
It depends on how far the price went south and stabilised at - but I think fml has a lot of room to move before survival was threatened.
There are so many variables and possible scenarios there that it really would be a nightmare to look at many of them.
But we have a of levers we can pull, right through from exploration to development to production.

It really isn't much different to a lot of other industries - be the product coal, wheat or whatevers.
I take comfort in this --------- gold has been valued highly for thousands of years - that isn't going to change imo.
Gold has all those advantages that it naturally has that make it valuable that come to the fore in times like this and it has the recent history that gold stocks follow well after gold price of a bull phase has peaked.

So, if the gold bull has run his race - then the goldies are yet to follow. So we should be ok.
However if the bull is still running - and I see zero evidence that he has stopped - then fml has a very very bright future - and not at some distant time in the future -------- NOW and onward.
Either way we have a hell of a room to move.


Well, I hope your day goes well and you get your stuff done.

Pinto