The Financials reported do indeed deserve positive comment and...

The Financials reported do indeed deserve positive comment and FML have done exactly as they said turning around the loss making assets they purchased. Their announced cash flow is spot on the analyst forecasts from 6 months ago, which also forecast $150M positive cash flow for 2013 and 2014. I had been following FML looking for some sign that it was on target and would start to lift from the 5c hole it was in. If this report had come out before the market 'anticipated' the Shandong announcement, I would have been back in right away at 5c even, since the analyst view would appear to be confirmed and $150M a year cash would fund the required exploration and plant development without further capital raisings.

Fortunately the Shandong announcement came first, which I believe has introduced a bit more doubt into the future analyst cash predictions and development schedule. Others disagree and think the 1 year acceleration on the development schedule is worth it. I do not doubt that FML will continue with its track record of increasing production, and developing assets to produce at higher cash margins, as confirmed in this financial report and previous analyst predictions. Now the questions is how will shareholders benefit, which other threads will show greatly diverging view points on.

So well done management on progress shown in the financial report. Also good to see 3.8c holding, although FML was the only stock in my gold watch list that did not go up today, I am ok to hold for another day and see what tomorrow brings.