FML - Focus Minerals

[MeadKeg]

Low was 4.4cents today and ended up closing at 4.6cents.

The news didn't seem to do much apart from the large volumes traded today. The raising of $8.25mil had a valid reason and that was to buy spare parts as an insurance policy in case any of their production equipment breaks down over the coming year.

FML are expecting to get gold production up to 80,000 ounces in 2010 and when I looked at another gold producer, Bendigo Mining (BDG), they're expecting to produce 80-90,000 ounces in 2010. The difference however is BDG are trading at 25cents while FML around 4.6cents, but FML has about 5times more shares issued than BDG. I think however that FML is on a good track will be good as an investment over the coming year, but only time will tell.

DYOR

 

[Liquidsky2037]

Yeah it seems a lot more people with a heap more money involved than I have thought that everything was on the up and up with the decision making process. Interesting comparison with BDG, stats as of last night:

FML BDG
2010 prod: 80-90koz 80-90koz
Market cap: $122m $130m
P/e: 23 13.38
Div (cps) 0 0.5 (maiden FY09)
Prod cost $603 $710
2009 profit 3.5m 8.5m

If you allow for FML coming into production relatively recently and earnings to increase they look pretty similar. The real differentiator appears to be gold reserves (Indicated plus inferred):

FML 1,800,000oz
BDG 188,000oz

I used to trade FML on TA but I now hold on fundamentals and will continue to do so.

All numbers lifted from annual report, profit statements and reserve statements available from ASX announcements (sorry I havent made enough posts to be able to include links) - DYOR

 

[Techbuy]

Yeah it seems a lot more people with a heap more money involved than I have thought that everything was on the up and up with the decision making process. Interesting comparison with BDG, stats as of last night:

FML BDG
2010 prod: 80-90koz 80-90koz
Market cap: $122m $130m
P/e: 23 13.38
Div (cps) 0 0.5 (maiden FY09)
Prod cost $603 $710
2009 profit 3.5m 8.5m

If you allow for FML coming into production relatively recently and earnings to increase they look pretty similar. The real differentiator appears to be gold reserves (Indicated plus inferred):

FML 1,800,000oz
BDG 188,000oz

I used to trade FML on TA but I now hold on fundamentals and will continue to do so.

All numbers lifted from annual report, profit statements and reserve statements available from ASX announcements (sorry I havent made enough posts to be able to include links) - DYOR

I cooked up this spreadsheet with what I can find so far, any input to get this more accurate or more meaningful would be appreciated.
The way is seems to me is that the best one is SBM followed by FML and then BDG. I think there may be more Gold around for BDG as I do not know if this included the Tassie mine they just bought.
I do hold shares in all three- bit of a gold finger... LOL...
DYOR just the same!
View attachment Gold-shares-excel2003.xls

 

[MeadKeg]

Volume is about 310million so far today, I'm guessing this qualifies for an unusual volume alert?

Something has really spurred on FML today and it's my guess that people are getting the news that they're going to ramp up their gold production over the coming year. Gold fever has returned.

 

[fureien]

When is the 3 mile high thingy expected to be reopened? i remember it was late november but i cant remember if they specified a date or not.

ive been trading this in and out several times the past month. nice little profits. will keep doing this but im afraid i will accidently sell the day before they announces it reopens or something lol

then again im sure some insider traders will ramp the price a bit so ill use that as an indicator to hold

 

[MeadKeg]

Should be coming online in December, but don't think they've specified a date.

Lately it has been a good trading share, bouncing up and down between 4.7 and 5.7. Best thing to do in my opinion is to trade within it and also have a second stash in case it jumps up.

They also announced some sort of high gold yield but didn't spur the SP much.
I'm still holding, waiting to see where FML goes.

 

[Fool]

Large volume day today, 192,571,043. trying to reach the old high of .065. live webcast tomorrow at 3pm (AGM); should be interesting !!!

 

[dandd]

most of the trade was in the last hour or so too, it went crazy. seems like someone knows something and the only announcement to market is about the agm tomorrow. very interesting indeed!

 

[stretchie]

This is an interesting little gold miner indeed. With the AUS gold price rising over the last week or so there should be more support for local gold miners with increasing production. These guys fit the bill as far as I'm concerned, they seem to be doing the right things to bring more production on stream and with low debt and a maiden profit I'm expecting big things from them in the next 12 months. They also have really large green field tenements around Coolgardie so the potential for a big discovery is there once they get a more complete drilling program underway. Been waiting patiently for a retest of 6.5c, hopefully a break upwards from that is not far away!

 

[Annwn]

Chart of FML to see what we are looking at, broken upwards from trading range that has been developing since early Nov, broken out today on large Vol, strong upday closing on the high.

Cheers

 

[MeadKeg]

3 Mile Hill should've been up and running by the 9th (yesterday). Hopefully the news will come at anytime to say they've got it online but it wouldn't surprise me if news also came saying its been delayed.

 

[Putty7]

Yes I bought in Monday anticipating the announcement and waiting patiently, hopefully it won't be to far away, it's already been pushed into December so they shouldn't be far away even if it is delayed again.

 

[oldblue]

Should we be concerned that there's been no news on the commissioning of the Three Mile Mill plant, expected to have taken place in December?

OK, everyone's on holiday!

 

[dandd]

Great to see the plant has been commissioned which put a rocket under the share price yesterday and it has not dropped back too far today. But where will this stock head from here?

 

[joseph1234]

What are your thoughts on this stock? It has had a steady uplift from Sept09 and just recently dropped back down to 7 cents.

 

[craigj]

i think this is a good stock to hold beacuse they are producing and generating cash it is however heavily traded and fluctuates in price
buy 2 parcels if you like the story keep 1 long term and trade the other one to pay for the long term hold

 

[kgee]

For those interested

Todays West Australian, Hartley's have a spec buy reccomendation with target 8.6 c

producing 100,000 oz (within 12 months of refurb)
looking at a mine life 10 years

 

[Clay]

Ability to convert resources to reserves remains my concern but otherwise looks a good stock. Has anyone else a view on FML now.

 

[Sean K]

Is what they are doing coming in on guidance?

Targetting 100k ounces pa from 2011.

Are they going to hit that?

And what's the cash costs?

Current mc of $150m by my records, so how's that all stack up?

 

[frankie_boy]

Seem as tho this stock has run out of puff...

I was happy when i sold some off when i did... held the rest but nothing has prevailed..