at times get the impression that FML is trying to dig it's way out of the low grade mess - hence the exponential spend on exploration and development !
I certainly like ( and have stated so) the "closer to home" higher grade as long as it can be accessed pretty fast and low cost (and some of it looks that way)
Being a large land holder may be as much a curse as a blessing unless you work that to your advantage and selectively mine deposits according to margin being able to be realised on them.
Forget about dreaming that POG will go to wherever "pundits" forecast it to end up.
Right now budget for 1450 AUD - period; any more will be a godsend but don't bank on it.
Mothball TI until you have 100 mill in the bank again and if needed turn off the tap at CRE.
Right now concentrate on deposits you know can and will come in at below 1000 cash cost - earmark the rest for later.
Not looking forward to the FY reporting as I think we will be in for quite a shock .
FML Price at posting:
3.5¢ Sentiment: None Disclosure: Held
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