CD,I think most of the questions you raise you answer for...

CD,

I think most of the questions you raise you answer for yourself.

I also think it important to remember how far FML have come in 12mths. Without cap raises FML would not own (fully) all their tenements, have produced/explored/drilled as they have, OR they would have a shedload of debt.

Now let's say last year they borrowed (if they could get $$$) and not had cap raises to get to the same situation we are now in. The question may now be, "How can we move forward with all this debt?" If your answer is a cap raise, then the opposite is true for the current situation (take on debt). I'm not suggesting we should but, in future, it may be an option.

If down the road we need to borrow, it just means we'll have debt with a lot of shares... the same situation we'd be in if we had a no cap raises last year and borrowed but now decided to cap raise to fund XYZ...

I hope that makes sense.

PS: The best option is, of course, to fund with cash. I believe that is possible. Gold's time in the sun in nearly here.


Cheers,

C12