Time to watch.
9 bill shares out there,but little bot took out 1c over last two days.
Indicators pointing up and charts looking primed .
Former darling been trending down for few years now,sideways for good 12 months,the Chinese with their stake have control but is one of the few that are cashed up and trading at cash in bank value. Their land and plants may not carry much valuation in s.p. currently but gold stakes will again will be a wanted investment in years to come.
Needs a consol or take over or at least something to boost profile,but guess more practical when time is right,but still a watch.
Still,cheap prices might be round for some time yet but watch for a little run and lookout for a volume increase.
We saw the big volume pushdown which culminated in a 10 minute run down to 0.006 into a market close about a month ago. Only time it traded there,but about 150m shares went thru(mainly to insto's) but it was an opportunity for the little battler to pick up a few if you had the orders sitting in line.
Technically a little reverse head and shoulders has played out and it's been quite strong lately between the 0.009-1c range,considering the easing gold price over the last f/n,with stopper orders at 1c keeping it there. But a bigger RH&S could come into play soonly and I can see a 1.3-1.5c target coming into play over next couple of months.
Interesting times ahead for this one.
Was starting to show signs of a double bottom.
Out comes news of a proposed 50:1 consolidation.
Consols don't always work,but I believe it will help Focus immensely.
Feel for the long termers(I'm one of em) but it's what the company needs to go forward.
New entity to have only 182m shares.
Will tighten up register and insto's will again come out to play.
Cashed up and on new registry will have a good cash backing per share,somewhere around 30-35c.
On current prices that values their ground and plants at worthless.
Mmmmm. Where to in the short term?????
This break of 40c has been a long time coming.
Breaking hard now,very strong today and with Chinese holding 49% and not many shares for offer there is no traders volumes(as yet),but they may come shortly as there should be some nice daily signals appearing which may bring out a few traders shortly.
Has to catch up with the rest of the goldies. Had issues in the past producing profitably and burnt alot of holders money but the reality is they have one of the lowest in ground enterprise values of all aussie goldies and they have a lot of ground,2 plants and alot of cash.
Surprised you haven't given up on this one, stretch. Back to 1c in the old money. Last dollar of revenue was 3 years ago. Good luck to you, but nothing says it needs to catch up with other goldies. It has a reputation of burning punters.
As to "in ground enterprise values", try CTO. That's the extreme of lying to punters, but FML has been overstating its economic resources and market potential for a decade or so. If not, it would have produced a shedload of value for its shareholders by now and the SP would be over $10.
You are to right there Wordy,imo they tried to become too big a producer and we're quickly running out of reserves and before long they were feeding more lower grades into the mill i believe to keep production level forecasts on course and neglecting the cost factors.
Their drill programs like treasure Island cost a monza and proved up nothing,they got ripped off when they bought Crescent,and their overheads and staff levels were ludicrous for the size of the operation. It is fact that they would of been looking closely at receivership if the Chinese white knights didn't come in at 5c.
That's another story and I believe they paid too much too considering where the company was heading. $240 odd mill for 50%.
Truth is I haven't been actively trading for a couple of years now,ive had my head down and bumb up working two jobs and have just been buying QBE for the long term as it bottomed(call it a 20year retirement income plan),so haven't had any wins too claim against my losses if I had of sold and I just couldn't see point of selling out after consolidation coz it couldn't drop lower than that 30c low level which saw the market capitalization about 5c/share less then it's current cash backing.It had too rise from there,it was just going to take along time of too and fro between 30-35 before it did.
I actually ran into FML company secretary on the train(he was renewing leases at min house)when going into city to get new passport done a few months back. I think I freaked him out knowing so much about the companies past. awkward convo to say the least.
I am interested to see if a lithium mine gets going in the area. LIT have agreements with FML,BAR and CAZ in the cool/widgie area and all are now in uptrends making new highs with the sector interest... just might evolve into something.
But have been watching market closer after father in law convinced me to get into MXC recently and have noticed speccy liquidity and higher trading ranges in the sector the last month or so and it's got me interested in the fast buck again.......even though experience has taught me that when speccies behave like this,we are on the edge of a market correction.
Happy trading Ol timer. Where have they all gone?
nice break of 48c resistance today.
Moved from 40c to 50c quite quickly and trend is strengthening.Another 20% and i actually get in front on my pre consol 1.2c average.
60 odd mill in bank on a 93m mc with goldies now in vogue;sort of makes it attractive....if u can forget the cash burn at its last shot at production.
Being an old gold buff im spewing im not playing a few now watching them strengthen with every run as many are giving off lovely trends.
Retest of 48c break looks to be complete.
Imo good trend forming with higher lows confirmed just need higher high on the 60 it got to last run and it could be on its way.
Lots of gold bearing ground
20%free carried lithium deal with LIT.
Was a story out last month about them being a target for someone and u can understand why.