APJAPJ, I had a look up of FML in the AFR archives, and it seems our suitor (I hold CRE only) had similar issues as CRE: high costs of production. From this article (members only but one can take a trial to the AFR online):
http://tools.afr.com/viewer.aspx?ATL://dc45ce18-f930-11df-a388-383e9727a82b§ion=tools
called "Goldminer focused on reducing costs", dated 26th November, 2010, it says that Don Taig, at the AGM, had "moved to mitigate investor concerns about the goldminer's rising production costs, that leave it dependent on high prices for the precious metal."
In this sense, it seems that the FML/CRE merger is pretty much a merger of equals, and we are now close to having an equal share price, with FML @ 6.8c, and CRE @ 6.6c.
The good news is, that POG hit another new level on Friday, closing @ $US1629/oz, up by $13, so our little juniors might do ok on Monday, even though the futures are flat.
As to who is selling FML's, maybe the company knows what is happening and can give you guidance. FML has an open register, with ANZ nominees owning 13%, UBS bought 5.3% in April, 2011, and the Top 20 hold 34.53%.
I do expect FML should rise, in line with CRE's rise, but one just never knows.
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Mkt cap ! $42.98M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3884 | 14.0¢ |
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Price($) | Vol. | No. |
---|---|---|
15.0¢ | 144463 | 7 |
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No. | Vol. | Price($) |
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1 | 3884 | 0.140 |
1 | 34309 | 0.135 |
6 | 63039 | 0.130 |
1 | 3963 | 0.125 |
3 | 12662 | 0.120 |
Price($) | Vol. | No. |
---|---|---|
0.150 | 144463 | 7 |
0.155 | 18648 | 2 |
0.160 | 52359 | 4 |
0.165 | 36616 | 2 |
0.175 | 16889 | 3 |
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