keith goode report, page-14

hi all,

I hope I don't appear to be too defensive here, but, I remember talking to Peter Cash about 6 or 9 months ago and Peter was saying about how much work went into updating reserves and resources - it is a hell of a lot of work - and it has to be accurate.

fml is really very complex now for a small mining company - and our staff have been full throttle getting us to where we are - first all the ground work then getting the mill working and now production and development to keep that production going smoothly.

I really can't get my head around how much work it would take to piece together a full, complete and accurate picture of what is happening right now - it would be a gargantuan task - and with so much happening it would be out of date by the time it went to print. Why? Because fml is dynamic.

I am not suggesting this is an excuse as I believe we, as shareholders, have the right to be fully informed - but, and it is a bit of an iffy but - would we want to sacrifice some development or production for the sake of compiling such an extensive document?

If we had a team that I didn't trust, I would feel different - but we have an honest team who as far as I can see are working their bums off every minute for us - and for that I am grateful.

I know this might seem a bit flakey - but I for one am prepared to cut them some slack on this - these are our commanders in the field - they have a good plan and they are executing it well - until I see some breakdown in the state of play, I will give them the rope they need.
All I see at present is good news, and whilst that keeps up I am happy - the team is doing us proud. Most long termers as far as I can see are very happy with the state of play. Traders, I can't say - but lets face facts - traders look for different things to investors.

And lets call a spade a spade - if every single thing was known in clear english about a company - then there would be no undervalue or overvalue - there would be no point in buying or selling as everything would be valued fairly - and that for investors or traders would be a disaster - the tricks to making fortunes are when you see things (deeply hidden or between the lines - or you just study the detail that others gloss over) that others don't - that is what gives you the edge.

I hope this makes sense and it is not meant to offend anyone.

have a great weekend

Pinto