Nice post SNM. I'm more of a HC reader than poster but I...

Nice post SNM. I'm more of a HC reader than poster but I couldn't resist on this one.

I bought in for the first time today after watching for a while. FML is looking very attractive and ranks very well amongst ASX goldies on a MC/oz in the ground basis. And with their cash in the bank it looks absolutely phenomenal on an EV/oz in the ground basis. Which means this thing could run like the wind when they turn the switch back on.

The Chinese are now running the playbook on the gold market and the Shandong guys will be aware of the master plan. IMO gold prices are going much higher (we went above the AUD record set in 2011 today) and if that happens the strategy of deferring production until later is going to be very positive for maximising value.

There's a lot of history with this stock and I can't help but think that if this history weren't there and the market looked at it as a new developer with 3.8 Moz in the ground with new discoveries coming through, 2 mills in place, approaching production, $50M+ in the bank etc in rising gold price environment then the current valuation would be a lot higher. Not that I'm complaining- hoping to accumulate more before the herd realises.