why fml is a fitnfam buy---ssssshhhhhh, page-22

morning all,

re.
"They are a tricky target for a takeover, they don't need to raise new capital, and they can get on with developing some of the interesting upcoming projects"

Is the above looking after shareholders? - for my money as an investor - a very clear yes is the answer.

"....that's because it is not being invested in, it is being traded. However, it is also becoming pretty clear that mgmt are very happy with this situation."

No, I don't think they are very happy with this at all - I think Don is very genuine on this - he fully believes that the empirical data he has seen strongly suggests that a consolidation would be wealth destructive to shareholders - and it is his and the boards decision to not go ahead with it 'at this stage' -- now whether or not that is the correct move can be debated - but, I believe he is honest and the board is straight - and for me - that is far and away the most important thing in any company let alone a gold mining company.

One must recognize what these people have done - they/we have and are a successful exploration company AND (and it's a very BIG AND) - have transitioned to a successful production company -- that is a giant achievement that most mining companies can only dream of.
We are also steaming toward a sound future business wise with sound management and several pot luck goes at making it in elephant country as well ---- just how many others can say that?


"But I do wonder if they really are fully obeying their charter, that is, doing things in the best interests of the shareholders. No doubt time will tell."

I agree, time will tell - and if it is found like I think it will be that they are in fact obeying the charter AND when we hook a big one and/or things just keep happening the way they are even (as long as we are left alone) then ---------- fml is going to be seen as one of the bargains of the decade. Traders then will still be trading - taking small profits and small losses - whereas lt's will have substantial holdings and hopefully will be getting cheques in the mail even without looking at a screen - that is what investors do.

Then all those who are whining about fml being presently stuck at 5c - will be wacking themselves for not buying more - 'If only I did have.......... when I had the opportunity..."

have a great day - looking fwd to production figures/start of TI drilling.

pinto