If you go carefully through the presentation released at the AGM...

If you go carefully through the presentation released at the AGM you will see what the strategy is. Better still, if you were at the AGM and heard what was said during the presentation and listened to the Q&A after the presentation then you would not be guessing on what FML plans to do. Simply put, they want to have low-cost, high-grade production which is sustainable. They plan to do a feasibility study on resuming production in the 2016-2017 financial year.

They also plan to have both exploration and processing which makes good sense because exploration without processing does not bring in revenue and processing without exploration merely depletes the existing resources. Combining exploration and processing enables part of the revenue form production to cover the cost of exploration.

What the Chinese have done is sensible: they have stemmed the cash bleeding to an exploration trickle and they are on track for creating value. The suggestion that they should restart operations immediately because the price of gold is high overlooks (a) that it takes money to restart operations so stop-start operations does not make sense, and (b) shareholders will benefit from FML bering put on a sound foor for long-term operations.