focus delivers a$4.9m 1st half year net profit, page-15

Hey Choo,

It could be seen as a hedge on POG but if that the case, why is everone unwinding their hedge positions? POG is going up, wait for the short position covers being requested in physical gold LOL.

Anyway, to The Mount. Now, I realise 71c4 is on a lot of people's ignore list....personally I ignore nobody, since contrarian information can be useful. This was 71c4's post: "pervious companies that have looked at the mount thought that the ore body was to risky, the reason barminco are on meters and not a fixed term contract is so fml can pull out if it does not work out, geos fimilar with the resource have told me that they would not mine it if it was up to them but it might work out because the contractors only get payed for what meters they develop, the contractor knows this so they will be mining rip tare bust and cutting corners on anything they can to save a buck"

As with a lot of stuff on Hot Copper, there may be some facts mixed in with a good story. Contractor not being paid by the meter, but they are being paid by the amount recovered. IF (and I say IF because I have no idea) the resource is a tricky/risky one, it's a reduction of risk in recovery. Personally I'm believe in the Mount resource, but maybe there is a higher risk mining underground by decline. Not blowing smoke, but I too would rather someone else take the risk if they feel they have the expertise....and be suitably rewarded if they are right about their expertise and the resource. Couldn't imagine the contractor undertaking this if they didn't feel that the resource was there to be extracted.

Cheers