lead story from the australian investor, page-22

topwon,

You forget that there's some big investors putting millions into FML, and I'm sure they each have done their own research above and beyond what has been announced and what you and I are able to guess at before they put up that sort of money, especially in the current climate.

That's not to say that they right or that everyone should invest in this stock.

I'm thinking that management would not jeopardise the company by refurbishing a plant that they don't have resources to mill from.

The latest ann was on 12/02/2009

"The updated JORC compliant resource for the Brilliant Project totals 3.1Mt @ 2.4g/t Au for 240,100 contained ounces"

Which with the newly refurbished plant will last 2 years, if they don't find an ounce anymore... and with the POG at the moment and FML being unhedged from September, will put a substantial amount of money in the coffers so that the company doesn't fold like many others out there at the moment.

In the meantime, there's 8 million put aside to firm up and JORC the various deposits they have in the area, and its a big area, 210sq km of tenements to consider, in an region with known gold deposits. Better than speculation, just a matter of "firming up" IMO

As for share dilution...

It's just a matter of share consolidation they can reduce 2.5 billion down to 250 million with a 10 to 1 share consolidation process. Whether you hold 500,000 shares @ 2 cents or 5,000 @ 2 dollars, the values are the same. It's the market cap value of FML that you need to look at, and its share price movement.

It's hard to find many bright spots out there at the moment, and I know FML has been a diffcult one with the long term holders, but I'm optimistic about this phase and where FML is heading. But IMO it'll take at least another 6 months before the rewards kick in.