FML 0.00% 15.5¢ focus minerals ltd

no questions answered

  1. 661 Posts.
    lightbulb Created with Sketch. 69
    It is interesting people reporting on phone calls about the vote, yet they are not replying to emails. I have had none of my questions answered, maybe if someone is getting a call they could ask for me...

    1) Which is correct, the last two quarterly reports (saying we are producing gold cash positive, with no further capital development (other than reported in quarterlies) required to sustain this production, implying $50 - $150M cash profit per year) or the reports saying we need this deal or we are sunk?

    2) What are the financial details of the plan they keep referring to, how is the $250M to be spent exactly, and their analysis of the benefits to cash profit over the next two years.

    I still find it hard to believe they are asking us to vote without providing this information. If the numbers add up even I would think seriously about voting yes even if I had doubts about control.

    I know that before this deal, based on FML quarterly reports and analyst reports, our share price was rising on the expectation of the promised cash profit in the current and next financial year. Now our market cap has dropped significantly below the forecast earnings. Why not show us the planned economic benefit? At the moment the market is discounting the deal as if the cash will all be spent again.

    If you talk to them could you ask them for a reply on email, or posted on their site for all of us to read. I can not think why they do not want this information on the record to reassure us.

    I am likely to sell if gold drops its primary support zone this week, or if FML does not move in response to the gold price increasing. There seems to be too much selling pressure at the moment.
 
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