Mill produced to name plate capacity in November. Moving to higher grade feed in the coming months. Whilst there's some down time in January it's likely the company will produce at least as much in the March quarter if not more with the inclusion of higher grade feed. Construction and refurbishment costs were completed in the December quarter. It seems to be moving along with no major dramas. As stated FML may or may not need funding in the current quarter from Shandong.
The SP will probably meander at these levels until the mill is producing 100% from higher grade feed and profits start accumulating.
FML Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
