StephoidI do understand what you are saying and I am criticised...

Stephoid

I do understand what you are saying and I am criticised by a number of peers about investing in FML, as they believe that FML offers high risk, little reward and do not have a great deal of confidence in management. CW and Mutty make great points about risk/reward, and the fact that FML are sitting at 5.1c actually reduces their level of risk to my mind, and offers greater reward.

I am actually quite pleased to hear my peers scoff at my FML investment, as they seem to know everything, and whenever I come across people who have this attitude, I prefer to invest against them. In a strange way, I revel in my ignorance as it means I still have a lot to learn, and life should be a journey of learning and self-improvement. It seems funny that I only ever hear of their successes and not their losses, even though they have told me "you have to get in to this stock", and as I track those recommendations, they have a short term gain, long term loss.

CW makes the great point that FML have no hedge, no debt, expanding production with the potential to lower production costs (which they are clearly achieving although perhaps not at at the rate that the market appreciates)and a potentially large discovery in TI. The only criticism I have of FML is their PR work...well, it needs work. But let's face it, they are a mining and exploration company not DDB Needham. There is really only one way for FML to go from 5c, and I believe that we are going to see a great quarterly released in April, and this will herald the rise of FML. Coupled with some more definitive results from Dean (which quite simply takes time), we will see not just a mid-tier gold producer, but a highly profitable one. Doubters keep doubting, as it means I can continue to accumulate.

Nonetheless, thanks for the conjecture Steph, you make a valid point which on the surface appears valid, but an in-depth strategic management audit paints a very different picture.

Cheers,
Hoff