In the interest of fairness & balance for those who read this...

In the interest of fairness & balance for those who read this blog before they buy I would like to point out the following:-

IGR:

Mkt Cap......$211.51 mil
# of Shares...2.9 billion
P/E...........17.38
ROE...........12.08%
Cost..........$750-$800 oz

The weaknesses of this company are:
(a) Too many shares on issue (needs a 10/1 consolidation)

(b) Recent dilution (Cap Raise) raised question of
profitability.

(c) Cost of production high.

For FML to attain investment grade for instos, particuluarly overseas instos it has to have a SP in $ & not cents. It also has to have stable earnings record
to indicate forward stability & no need for dilution.
FML has not traced the POG for those reasons.

Production costs are of concern. If the POG dropped say $150/oz FML would likely be in strife.

Other start-up miners in WA who also rely on contract miners & with a similar gold grade ( 4 g/t) have a lower cost of prooduction. IGR in WA ,for example, has a cost of about $465/oz.

While I very much appreciate posts highlighting the strengths & opportunities if FML, its weaknesses & threats
have also to be noted so that potential investors get a balanced view.

Cheers
Moorookamick
PS: I have held FML in the past before dilution.