I'm with Derham, gold price is powering ahead, & in spite of our...

I'm with Derham, gold price is powering ahead, & in spite of our companys poor financial discipline (spending more than they're earning) I maintain my original stance that we are beggars to nobody. I also dont see how anyone could get a hostile takeover arcross below 5c, I mean one billion shares would need to be bought just to get to a mandatory bid level, thants 10 days of 100 million shares & if anyone else remembers the last time we had those volumes, we jumped a damn sight more than 1.2c & that's before any premium would be offered; and rejected :)

I can see how the money would expidite growth, but the price is far too great & also throws more pocket money to be burned faster than an effigy of GW Bush, we'll we may argue that pappa smurf will force better discipline, but that is an assumption.

Financial controls have had significant shortcomings, yes we want to drill everythiing, yes our exploring & producing staff are working very hard, but our finance dept has not been working to maintain balance. If it meant postponing a single exploration site or merely slowing the drill rate, we need no capital raising, we need no pressure on the SP, we certainly dont need to sell the farm. Now we have the gold price in our favour to rectify the waywardness, the 4koz hedge at sixteen something was probably to protect against being snookered by a dip in gold while processing the 0.9g/t stuff, so big cash surplus would likely be Dec qtr not Sept.
Funny I dont remember even being informed of a hedge being done...communication (or lack thereof) again

I cant say for sure whether we have the ability to do this, but I would like to know if it's a realistic thought to put aside some 0.9 until above 2k gold, boost the coffers on higher grade giving more ounces + higher margin & the cash boost we want to pursue all the drilling we want.

I also (repeat myself again) would like to see a firm commitment to dividends with a reasonable timeline target. That would do wonders for the SP.

I reject the notion that gold will be $800 in 5 years from now, it will likely take a decade or two for this GFC mess to finally fall apart after all the dodgy tricks that can be pulled have been pulled & the corrective in gold will take quite some time too, there will need to be a distribution period around the time either a new world currency comes into play or some inconceivable miracle that all the developed world can get the interest on their debt under control & shrinking.
If I though the peak period of gold would be that brief I would never have invested in FML.
IMO depression, stagflation, low interest rates & QE to aviod bond market collapse, & an occasional few pennies to the real economy to pretend they care. Only one way for the shiny stuff as with the fall of the Roman empire.