JumpCan I firstly say that CW shouldn't have to defend himself...

Jump

Can I firstly say that CW shouldn't have to defend himself at all, his contributions are so incredibly vital for this thread, and with his experience I am sure he could spot a spin doctor a mile away. It is difficult to gauge exactly what is going on within FML, as I have stated before, they are not great at communicating to shareholders. However, I do believe they have a strong strategic management plan in place, but it is long term, and aimed at establishing themselves as a significant player in the Australian resources market. Coming from where they are, that is a huge challenge, it takes time and calculated risk.

I do share your frustration, and feel that if something negative comes about from a direction that they have communicated to the market they are going to pursue and may have potential, they tend to say nothing fearing a hugely negative response from shareholders. They fear upsetting the shareholder. It is my personal belief that transparency is all important, and clear and effective communication is vital to having a "great" relationship with the owners of the company (us, the shareholder). However, POG has stalled and is treading water; macro conditions are extremely negative, and smaller resource producers have been cained this year. This is all out of their control.

As hard as it is, and believe me my wife keeps pressing me on what is happening with our investment here, wondering why we aren't further ahead, and questioning whether our money would be best invested elsewhere, one hard lesson I have learnt is not the timing in the market, but the time you have been in the market (up to a point). FML needs another 1-2 years before we are going to see significant gains. By this time, they will have shored up production, if they continue to cut production costs great, but POG is going to be the golden goose. I share your frustration, but CW is a learned colleague and has a far greater understanding of this company and the gold market than we do. He is paid for this knowledge and his opinions, so we are very lucky to have him here for free.

Have a great weekend, and try to stay positive in the tough times we have still to overcome.

Cheers