This question was addressed at the last AGM on 20 May 2016....

This question was addressed at the last AGM on 20 May 2016. Those of us who were there heard it said that (1) they wanted to resume with operations that were sustainable with good grades and high margins, and (2) they anticipated doing, early next year (ie early in 2017), a feasibility study on resuming operations. The PowerPoint presentation, shown at the AGM and made available on the internet after the AGM, said: "Clear goal: Restart when sufficient ore reserves to be nable five years high margin production have been defined." Nothing has been said since then to nodify that statement. I know we would all like an update but with FML's financial Year ending on 31 December,we may get something soon although we may have to wait for the Annual Report or even a new presentation at the AGM. As for the likely cost structure, I would expect lower costs because (a) the mining boom is over which may make some things cheaper, and (b) this time FML'soperations will have the benefit of the considerable Shandong experience.