The company has been talking of 10yr life of mine mining plan and we have seen the proliferation of oncoming pits both at Laverton and Coolgardie.All good
The reality is we're over the 10yr life of mine figures already IMHO,so either they plan to slow down there(no sign) and just concentrate on replacing ounces milled,or we're after bigger and better things-yes please
The logical company one is greater milled ounces and milling capacity to handle this greater than 10yr life of mine ounces ahead,or we're just out to totally define the areas we're currently exploiting,near our milling plant,for better ounce/ton yield. ALL likely scenarios.
At Coolgardie,most definitely,they are out to define their currently working resource area,looking for clues to the whole areas geology.In the end hopefully with enough knowledge to pinpoint where deposits that are likely to be large are.Given all the fancy technology about,it still takes a drill bit and hole to prove its there and a mill to put it through to get any value from having it.Something most mineral investors forget. A reason why,i couldn't give a dam about explorers,the resources they have found,UNTIL THOSE RESOURCES ARE PRODUCING EFFICIENTLY,or well on the way.Fml have only in the last QTR reached this point of producing efficiently,in my estimation,with cash upside to follow.
For all the knowledge and insider running our esteemed Geo's have with salt lakes,they too are having to map out what happened at TI,to understand where the Elephants dropped his load/loads.(no criticism here,believe me,just understanding)
Geologists are a bit like doctors and if you don't think most good hospital doctors are treating you as a guinea pig,to either refine their own skills,or the knowledge of what they are treating,IMHO you would be a fool.
With all this detailed skill base growing and in such a small miner,i look forward to Focus adding more tenements,or operations,just like a drug company shareholders would getting a new drug certified.
The point is,FML has this skill base and not just one overworked GEO running about pulling his hair out,but a dedicated corporate GEO team.The cost of which must be around $1m a year in wages and costs,above having a one man band Geo and crew,just looking to keep the mill full and firm up 100koz/yr at each site. To give you an idea of how far ahead FML have been,many years ago(6-8) FML were using a 10 hole grid pattern with down hole magnetic surveys. Only now is one of the larger global miners lauding the same technique and crediting it with all its MAJOR RESOURCE DISCOVERIES over the last 12 months. ALSO PLEASE NOTE-most of the holes drilled lately at COOLGARDIE/Laverton have been throwing up NUMBERS and i'd put that down to the Geo's picking the perfect drilling sites,not the resources lying on the beach to be drilled.That's what comes from co-ordinating and directing your team and that must come down to our new cash man wanting results for his buck.
Don't forget,these down hole "metal detectors" for want of a better word ,may not just read what's in holes/between holes,but possibly beneath the bottom of them as well.Does that add 10 or 15 or 30 mtrs to the depth i wonder,something worth studying up.
All i am sure of is FML is mining mainly on shallow drilled resources,the only true depth is in the Tindal Underground area and that's around 300mtrs.although some holes drilled lately are getting a bit deeper.
FML just needs any UP Finds UP, Grade UP, Milling UP, Cash UP, then the Share price will go naturally UP.
As always,i have believed Coolgardie will be the place of FML's first Great performance.One of many to come.
DYOR + DYODD
FML Price at posting:
4.3¢ Sentiment: Buy Disclosure: Held
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