Whatever we think of the UK decision in the referendum on withdrawing from the EU, it seems certain that it is bringing as time of economic uncertainty, and not just in the UK.
One of the first economic results was a rise in the price of gold as people rushed to security. We saw a rise in FML of about 10% on Friday when the news broke and I think there will be considerably more to come.
What I am really hoping is that this will push the Board to bring forward their plans to move into a mining stage. The price of gold is near $A1800 already and this must make profitable mining more easily attained. When mining commences I think Focus will be assessed in a completely different manner, as the market see a profitable gold miner, which works professionally and economically. That is when I see a much larger rise in the price of FML. I may be wrong - it has happened before, but my strong belief is that we will be seeing a quite different company and stock price in a year's time.
FML Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
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