good news, page-18

morning all, hi mutty,

All I am really saying is that what I heard is good news to me - I don't know what results they will release or how they will word it - so I don't know how the market will react.

fml go about business differently to other mining companies - and I don't think certain sectors of the market either 1. realise that or 2. can cope with that.


Careful and full preparation of facts/information being turned into intimate knowledge is definitely not the normal thing for the vast bulk of companies to do - most of them are only really interested in getting some flashy numbers up so they can tap the market asap with probably no real intention of ever mining.
fml is different - I reckon every single hole they poke down goes in with the clear intention that this information will sooner or later (the sooner the better) feed into a mine plan.
So in fact they are much more careful than most in the exploration stage - then they develop at a pace.

So, will there be much gloss?? Don't know. But I think there will be care and I think every dollar spent will be spent with shareholders benefit in mind.

I have said we are going to have a lot of cups of coffee and chat to get a handle on what is happening at TI.

blairbart covered it pretty well for me.

But big things take time - hunting an elephant is just like painting a big building - there is a hell of a lot of preparation before you actually see any colour - and even then you often don't see the thing in it's full glory until that last stroke of paint on the trim goes in place.

In fact I had been thinking through fml's different strategy to most lately - I might be wrong, but the way they are mining as they go with these thin ore bodies - as opposed to building more and more reserve - to me I can't see why you would do it any other way to make sense anyway. I think it is just that the valuing of mining companies historically has been done by measuring reserves, resources, costs etc. - and the industry is dreadfully slow to change. That is exactly why mining is a boom and bust industry - because it's thinking is way in the past and littered with a fair sway of shysters as well.
Different thing with fml - and personally I think the market will struggle for years valuing fml - precisely because it is run differently - but, far from this being a bad thing - assuming fml becomes dividend paying (which I know the chairman and some board members want) - it really is a good thing - because the sp has been undervalued for quite a while - so everyone has had more than a fair chance of building a reasonable position for long term if they have chosen to -- and this position would have been built at bargain prices.
That's exactly why I have argued in the past that having around 3b shares has really worked in our favour - because it means that fml has been overlooked.

If in 4 to 5 years fml is paying dividends of cent plus and growing - how much of a bargain has it been in the last 2 years? Ridiculous in my book - one of the chances in a lifetime - and all the while people complaining about silly selling etc. ---------- some people have been looking at a gift horse in the mouth and chasing it away -- very short term thinking.
Most people treat shares totally different to something like real estate - they look to shares (especially mining companies) as much more quick capital growth in and out with profit mentality -- pretty dumb in my book.

How would it be to have a solid core of fml over a 5 or 10 year period from early production with market cap of say $150m to strong mining house with market cap of $2 or $3 billion and getting cheques in the mail every 6 months?

Isn't that better than short term trading where you get a quick 5 or 10% - taking risks each time and then have the privilege of paying cap. gains tax to the government - and getting no sleep whilst watching your stops all the time? - Bloody stupid in my book - but each to his own.

Anyway, I have waffled - some TI results this week I think - and we will see what happens.

Have a great day all - I haven't put the Krug or the Dom in the fridge this time - but it is ready to go if needed.

Pinto