Hi Joshua F,You made some interesting points and have taken some...

Hi Joshua F,

You made some interesting points and have taken some time to express your views to FML management. I would however like to pull you up on a gross misrepresentation at the beginning of your original post. You wrote:

“I really wonder if it is a good thing anyway for an explorer to become a producer, when it has no experience in that arena. If a company decides on that, it becomes a sell as far as I am concerned because I do not have the patience to wait for results ! At present the company's fine assets are looking to go down the gurgler through management incompetence"

Despite my disagreeing with your suggestions to management on financing, which by the way sounds fine in theory but does not take into account the reality of the current market, I take exception to blatant mistruths on management competency and experience in the field of mining production.

Let’s start by looking at the board and senior management of FML (by the way, easily found on the FML webpage;

Peter Williams, Managing Director: nearly 40 years of production and management experience at many mines in multiple commodities. Underground, open pit, dredging….Bullabulling, Peak Hill, Jubilee…...shall I go on?

Don Taig, Executive Chairman: How much more experience would you want from a Executive Chairman? Let’s start with over 10 years at CRA (Now Rio-Tinto) at the highest level of financial management. Shall we start talking Hamersley, Argyle or are we expecting something more substantial???? Don’t get me started on his experience with other mining entities and international financing entities!!!

Phil Locker: AKA Mr. Kambalda, OVER 40 years production, management and directorship experience in Nickel Production. WMC, Dominion, Perilya, Resolute, Jubilee mines....do I really need to go on?

Chris Henderson: Azure Capital. For those he need a heads up on Azure Capital and the power house they are when it comes to financial backing of mining companies, please read the article in the West Australian from Saturday on page 77. Have a look at who they represent and who they have just partnered with...Alec Pismiris mean anything to anyone?

Chuck McCormick: 30 years experience in both exploration and production. Put together the Coolgardie land holding that our company now owns. AKA Mr. Coolgardie. Discovered Paddington, oversaw production at Tindal’s (where Percy is now), Golden Ridge, Brilliant.....need I go on?

Steve Denn: Over 20 years experience in exploration and production of Nickel. Was Chief Geologist for Centaur Mining and Exploration that discovered the Federal Gold Deposit and was responsible for the geological studies of the Cawse Nickel Project from project inception to commissioning and production? Again...do you really want me to go on???

Now let’s start adding up the EXPERIENCE and COMPETENCIES of this board and management that apparently do not have the experience in the arena of production:

PW: 40
DT: 20
PL: 40
CM: 30
SD: 20
Azure Capital: Just look them up and make up your own mind

Total production and mining experience of the Board and senior management alone = over 150 years!!!!!!!

Now back to your original statement; “I really wonder if it is a good thing anyway for an explorer to become a producer, when it has no experience in that arena. If a company decides on that, it becomes a sell as far as I am concerned because I do not have the patience to wait for results ! At present the company's fine assets are looking to go down the gurgler through management incompetence"

Joshua, you find me a mining company in this country that is moving from Junior explorer status to a Mid tier Ni and Au producer with more experience at Board and Management level than this one, then I would love to hear about it!

Wax lyrical all you like about financial arrangements but don’t waste our time by denigrating a board and management that from what I can gather, has EXACTLY the right experience and skills to take this company to the next level.

Lets hope you do not have a hidden agenda as I would hate to see this one dragged down for someone elses short term gain.