Re: Ann Expiry of Unsolicited TGM offer

10 years and my nuts are hanging by a fraying Gold thread!! In early Sept 2012 FML were mining, the gold price was Au $1,600 oz. At that time FML production costs were Laverton $1,216oz Coolgardie $1,294 oz not a huge profit margin. Estimated gold still to be mined 4.3moz. In late Sept being aware of all those facts SD paid $2.50 per share for 90m shares totaling $ 225m = 49% of the company.
Todate SD/FML have now spent the whole cash cow but that exploration has added a further 1.8m oz to the holding = 6.1m oz.
Although mining costs no doubt have risen, the Gold price is at $2,700au which far exceeds any increase in costs strengthening the bottom line. These figures show that FML is worth much more so why is it sitting at 0.25cents. As it stands today if FML went into production the share price would go thu the roof.
The reason for that background is I put this out for your valuable comments. I understand that the Chinese don't want to mine they want possessions in Aust, but why would big Aust companies like Rio Tinto, BHP or Newcrest not be interested in a takeover particularly in their backyard where they can cut costs.
If FML figures are right I feel with 6m plus oz of gold in the ground even the worst case scenario of $600au profit an ounce after mining costs means a GP of 3,66 billion. If a total buyout of the 286,558, 645 shares in FML were bought at for example at $2.00 the company would cost the purchaser $573 million. I don't know if that is not enough margin for mining companies but GP is more than 6 times the purchase price.