I do not think a TO is coming. Shandong invested too much but do have good knowledge of the gold market. They bought a dog and they certainly are not short of money generally to hand over the FML to someone else because they need the cash.
I think it is a patience game waiting for POG to start a run to 1500, but that will need inflation to fuel it. There is no more beaten down commodity than gold at the moment.
The 5 year chart looks horrendous, a peak of 60c in July 2016 now 18c, but it did climb 60c in 18 mths. Drilling results are the clear engine of future value. Lets hope they get some good results going into an increasing POG, but all that looks six months away.
Will be interesting if we see more buying by big pockets going forward.
I do not think a TO is coming. Shandong invested too much but do...
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Last
18.0¢ |
Change
0.015(9.09%) |
Mkt cap ! $51.58M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 18.0¢ | 16.5¢ | $24.31K | 145.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 129350 | 16.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.0¢ | 40000 | 1 |
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| Last trade - 14.42pm 16/10/2024 (20 minute delay) ? |
| FML (ASX) Chart |