The next rerating event which will happen soon will be removal of hedge and repaying of debt. Supposed to happen in september. My call is 4c when the news is out. And I'm still happy to bet a case of beer with anybody that we will see 7c before christmas. It just has to happen. Look at sbm. Producing 200koz pa at A$900 poz cash cost. Share on issue I think 1.1bil. Trading at 20c atm. Was over 40c a few months ago. FML will be producing 100koz with cash cost of A$600poz, shares on issue 2.6bil, no debt and possible extra income from the likes of MAT. Has to be at least 7c.
FML Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
