morning idl51,
I agree with most of what you say and I certainly agree 100% with your sentiment.
However, re. management getting us a good price if we become a target --------
I would love to agree but I can't say that I have faith in that - not because of management at all (who I think are great) - but because I don't think they might have much say in it.
Please correct me if I am wrong - (I am desperate for someone to tell me I am wrong on this). --
From what I can see (and my info might be a bit limited) -- fml would be a wonderful target as soon as reserves get up a bit -- here is what I see for a potential circling shark
All the usual positives - that I will only briefly list
No debt, cash, great real estate, no hedge - da da (you know them all).
But also - and here is the risk from my perspective and a very juicy card up the sleeve of a shark.
No big blocking shareholdings **********
Only the great unwashed on the register (self included)
Let's say that fml has a couple of good reports (say sends the sp to apx. .12c)
Then the pog goes to US $1300 and A$ 1450 ish
this sends the sp another bit up - say .16c
ie. (market cap $460m ish).
None of these figures are outlandish by say August this year.
OK - sp of .16 and fml running straight and true.
Bam, an offer of .20 comes ----------
who amongst us is NOT going to sell?
I would suggest that we would have a LOT of sellers -
Now the risks I see are these - first up fml goes completely to someone else and we have to look for another quality small goldie --------- very short supply of them really - and they make a packet over a few years (our packet).
OR
Enough get sold - say 40 to 60% and we get a number of new people on the board - and possibly in management.
- great - here come the gorrilas - the very people who probably can't order a bonk in a brothel or a beer in a pub --
either way - a risk. Now I don't want to say I can't see it being potentially good - who knows, we might get some more good people and assets on board - but at this stage for a few years - I for one am very very happy with what we have already - the track record for me is very reassuring.
So anyone, please please tell me I am wrong or I have missed something.
ps, the really scary thing for me at the moment is that the odd shark might be looking closely right now (and we don't know it) ----- how cheap RIGHT NOW is fml at say .10 - what a prize for the right shark, it would be like xmas to the buggers especially if they are nearby with a bit of proven dirt themselves - a gem waiting unguarded.
have a great day Pinto
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Last
13.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $38.68M |
Open | High | Low | Value | Volume |
13.5¢ | 13.5¢ | 13.5¢ | $7 | 52 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 52002 | 13.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.0¢ | 3300 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 52002 | 0.135 |
2 | 20009 | 0.130 |
3 | 62595 | 0.120 |
2 | 18181 | 0.110 |
1 | 8571 | 0.105 |
Price($) | Vol. | No. |
---|---|---|
0.150 | 3300 | 2 |
0.155 | 14055 | 2 |
0.160 | 37300 | 2 |
0.165 | 71956 | 3 |
0.175 | 16889 | 3 |
Last trade - 10.17am 05/09/2024 (20 minute delay) ? |
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