should i buy, page-38

Excellent posts guys and really good to see some discussion happening concerning FML lately as this is my first foray to H.C., and I mainly post down the road but just can't get any discussion re FML,happening over there.Incase you haven't worked it out I'm "Stretch" over there-my other nickname in life.

A question for those who follow closely?

"According to the bankable feasability study announced in December 07 $2.8m is required for capital works to get the project underway".

Is it correct in me thinking that that figure is for whole JRV,so if FML completes 100% ownership that is total cost and if it remains at 50% they will share that cost?

Also noted $1m cost(deducted from sale price if they commit)for exclusivity agreement to negotiate terms of proposed agreement.

When you add ongoing costs at Nepean,there is a fair whack of that $7.5m gone already and IMO leaves little margin for blow outs,which adds to the arguement of a near term raising.


But I do think that current s.p. is horribly under priced and in coming months it should easily be a bagger+ and we should get a series of announcements very shortly.


Some of the ann's we may soon see include-

Finalization of permitting and tendering of mining contracts,

Provide further details regarding the acquisition terms and funding arrangements as they are finalised,

Regulatory approvals from the Dept of Industry and Resources regarding Nepean project and poss notice that 1.5 tonne ore haulage skip has been delivered,

Further drilling at Perseverance and further possible upgrades,and complete the last 50% of drilling program at Nepean,

Is there anything else that you guys expect to see announced over the next month or so?


Go FML and hold tight holders!!

Cheers

Brades