Alex999. I disagree with your major discovery theory. I would love a major discovery but in my opinion the comapny just needs sustainable grades to rise.
With a basic view this is where I see the major issues
Problem 1/ It looks to me that the company stopped drilling (conserved cash) around the 3rd qtr of last year and with the issues of the mount, the closure of Tindalls undergroud and the move to open pit resulted in the grades to fall to unsustainable levels at Coolgardie.
To Fix/ Start Drilling. Done
Problem 2/
Admin costs I agree have got way out of control for a company the size of FML.
To Fix/ Replace CEO and institute cost reduction program. Doing
Problem 3/ Board strategy of growing aggresively into a rising gold price.
To Fix/ Change strategy to Sustainable gold production. Doing
Problem 4/ Cash Shortage
To Fix/ raise cash. Done.
FML Price at posting:
2.9¢ Sentiment: Buy Disclosure: Held
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