If they have enough cash to last 12 months without going back to the market for cash (debt) and/or equity then with their early encouraging assay results we may be looking at a good capital appreciation medium to long term.
Some intersections have been thin near the boundaries in area E, but many are over the initial average estimates from pre drilling estimates of 8 metres. Area D is closer to the surface for good quality ore and tends to indicate further the under estimation of the resources in this tenement section. A to C area will be soon be drilled and assayed by years end. The pre drill estimates have been conservative up until now, it is likely the trend will continue. Good time to buy more from taking profits from other stocks. This market meltdown is presenting us all with the chance to top up in all kinds of undervalued stocks, take your pick of many.
FMS Price at posting:
8.8¢ Sentiment: Buy Disclosure: Held
