high cost producer leverage to rising price, page-24

"..FML is a marginal producer at lower POG and hence very risky
.."
That's the point. Hence sp leverage on increased pog is reduced. Until C1 costs below AUD750 I regard it as risky, despite pog, especially given AUD exchange rate appreciation potential, shares on issue and a rubbish Federal Government. Not all FML's fault i realise.

"..did you noticed 6 mnths ago.."
Several years ago FML was down to sub 3cps. Earlier, ie late 2007 it was 14cps. Now we have a much lower price AND vastly more shares on issue. Point again is that FML has continued to disappoint and dilute with a sp performance that is pathetic. The contined dilution (latest will be CRE)is what rankles most.

Additionally nobody now talks much about the coming (I'm supposing) future SC. I do not imagine that will help the sp either.

Anyway, the post that originally got this started made a comparison between MML and FML. They cannot be compared.