what the!!, page-14

"Whats the next excuse going to be if it goes down. The market dictates the price not choo."

- That's a strange thing to say, Alfie. I don't know where I was saying that I'm determining the price (if that's what you mean - wish my pockets were that big). The debate is about what is causing the market to determine the (cheap) price. You are saying it is the share reg and I disagree. If it goes up is your "next excuse" going to be that the rise was caused by the share reg? Or does it only go down because of the share reg?

- Albaman: good luck with your plans - I hope they work out for you... I don't think low SP is neccessarily because of the things I listed (merely that they are more likely to influence it than the share reg)

If I had to be pinned down I would say (boringly) that the SP is still low because FML has yet to prove itself to the market. Other than the POG, market jitters, big boy manipulation, other noise etc, we are all looking to the FML future - upgrades, new resources etc etc (as markets do) but maybe the market wants more proof. IMO, some of that proof is a week away. And real gains will come when significant reserve and resource upgrades come.

I didn't get into the Spec or Non-Spec argument on another thread, but I believe FML is still a spec buy. Some will disagree but to me, non-Specs are businesses that generate income for their investors. FML is years away from that, if at all. Peter Schiff has a good take on that - he calls any purchase of shares that don't pay dividends "gambling". Who knows, maybe drilling will show little from here on and Alfie will be right - and FML will languish under 10cents until finally dying when gold drops and Coolgardie is just a mound of gold-less swiss cheese. If we're honest, that's the risk and that's IMO why we haven't seen big gains yet.

The extension of that is the low fwd PE. If you went to buy a private business you wouldn't pay 10 or 15 X earnings if there was a significant chance that it may not be in business in 2 or 3 years. Stockmarket is no different (unless you talk hysteria and then all bets are off... but I guess that happens in private businesses too.)

I have my plan with FML and nothing I've seen so far has made me change my mind... yet.


Cheers,

c12