Having "cooled down" a wee bit and having a look around:
Looks like most WA miners had "operational" issues - so FML isn't the only one
Even companies with outstanding drill results did not meet "expectations" and are being sold down.
Still some issues/queries to be resolved about FML and the way we are going to become cash-flow positive.
The bigger picture concerns me a bit more:
Are various SH reconsidering their positions in gold per se?
I do see a sell-down in the sector and if I see this correct this raises further questions.
My "gut" tells me there is further consolidation to come - as even mid-tier producers are finding it harder to "come up with the good" to satisfy our expectations.
As for FML: still have to read the reports a couple of times more to get a full grasp and see what could have been worded better for us to understand what is going on.
I would find an "explanatory" comment from HQ in regards to current issues/progress and intentions most helpful - so maybe that can happen rather sooner than later?
Also a monthly up-date (though not common in the industry) would keep us in the loop and could instil confidence where it is deserved - a continuing "sporadic" up-date policy is not going to keep SH on side and many of us may have to consider our options (especially in this volatile climate).
I'd rather not be able to buy FML at 3.6 again - but I can't rule that out if there are no positive indications being released soon.
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Price($) | Vol. | No. |
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