One of the pitfalls I have learnt in mining is that no matter how much gold you have in the dirt, you still need to extract it at a profitable cost.
My questions are, what was the last cost per ounce before shut down, I remember something in the line of $1600 ? could be more or less. What cost can the new management produce an ounce of gold? Since shut down wages have declined to some degree along with drilling, mining cost in general.
What would the gold price need to be before the company would even consider a re start?
An exploration company with all the potential and reserves in the world even with cash at hand can very swiftly burn funds with expensive mining cost whilst back in production.
These are a couple of questions in my mind before I would even consider reinvesting in FML.
Any thoughts would be appreciated.
Old FML investor
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Price($) | Vol. | No. |
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