stock valuation, page-31

Balilow, SS most probably dosnt have any calculations on this stock, or hold stock or sentiment towards fml.Below is an excerpt from Chairmans address in November.Its no secret Dec quarter wasnt going to be hot. Good luck

As most of you know, mining sees the expenditure go first and the benefits flow later – and to this end, we are clearly in a position at the end of the year where we are continuing to invest in development now to reap the rewards in production next year.This sees a tight constraint on cash flow as we head towards the final weeks of the year but the March quarter sees production ready to crank up at both Laverton and Coolgardie which will soon begin to fill the coffers. Our balance sheet remains strong, but largely ungeared. The Board has given management the approval to establish a line of credit to further underpin the operations of the Company, which we expect will remain undrawn..