FML - A nickel string to the Bow!

[tricha]

Stock has halved last year, while gold has doubled.

They have their plant ready to go!

1 or 2 ounces @ Coolgardie.

Trouble is I live in Kalgoolie and spend much too much time at the skimpy bars.

Anyway word has it, M K from Monarch, is on the aquisition trail with money to burn.

Also sworn to secrecy, FML onto 30 grams a ton @ ...............

Focus on gold, feed on bullsh_t, total gamble, but worth doing your own research.

Cheers not so [B)][}]

P.S bought in today, total gamble.

[tricha]

They are not a total gamble, the key is they have a working mill, which means all they have to do is push the go button.

Another articule out today about the mighty dredge on the Grey river, it going to go again, 3 monthes to recommission.
A sharp rise in the price of bullion has lured the Grey River gold dredge out of retirement

So I repeat FML = Stock has halved last year, while gold has doubled. They have their plant ready to go! 1 or 2 ounces @ Coolgardie

Anyway it's all good, bought in at 6.1 cents during the week, touching 6.4 Friday.

Cheers from the reformed not so [B)][}]


Gold set for a grand time

JOHN PHACEAS

Some time in the near future, a remarkable milestone is likely to occur that would ordinarily command front page headlines: the price of a single ounce of gold in Australia will hit a phenomenal $1000.

But the magic $1000 mark may rate little more than a mention amid the cacophony of the parallel boom in virtually every other commodity produced by WA's rampaging mining industry.

Overnight Thursday, the international benchmark price of gold hit a 26-year high of $US727/oz, pushing the price received by locally-based producers to a staggering $928/oz.

At current exchange rates, the Australian dollar price will hit the magic $1000 mark when the international price hits $US776/oz. Given analysts' forecasts - including that of investment bank Goldman Sachs JBWere on Thursday - that gold will trade as high as $US850/oz by the end of the year, the mark may be closer than you think.

Gold has risen 40 per cent this year and 70 per cent in the past 12 months as investors diversify into metals as a hedge against surging oil prices, a weakening US dollar and global tensions, predominantly the nuclear stand-off in Iran.

Analysts say it appears unstoppable, with one noting yesterday that it took two years for gold to rise from $US400 to $US500 an ounce, nearly 18 months to go from $US500 to $US600 but less than a month to surge from $US600 to $US700.

Regardless of whether it hits the $1000 mark or not, conditions for those companies actually in production are better than they have been in years.

Six years ago, the industry was at war with the State Government over the reintroduction of a State royalty on gold for commercial miners when the local price passed $450/oz.

That is now the operating margin enjoyed by a good proportion of WA's producers. Yet not is all beer and skittles on the WA Goldfields. Drill rigs might be humming, and the flood of geologists who quit the industry to drive taxis in the late 1990s downturn have returned to the field.

But gold is no longer the hot topic of discussion that it was in the late 1980s or mid-1990s. Nor is gold the chief target of the flood of companies looking for investors to fund their exploration campaigns.

Instead, investors are more likely to punt on minerals more directly hitched to the Chinese economy such as uranium, iron ore, copper or zinc in the quest for rapid riches.

Reed Resources chief executive Chris Reed said the booming gold price was obviously good news for companies such as his, which are in, or close to, production.

Reed's small Sand Queen mine near Kalgoorlie will officially open this month and should yield around 20,000 ounces a year until the end of the decade. The ore will be toll-treated at a plant near Coolgardie.

"It's been a pretty substantial increase, the Australian dollar price was $550 when we first did our sums and it's $920 now," Mr Reed said.

But the big downturn of the late 1990s triggered a wave of consolidation that decimated the ranks of small producers and led to the removal of dozens of processing plants that formed the backbone of the mid-1980s gold boom.

Their disappearance had made it twice as

[Packersoldkidney]

Been looking very closely at this one myself, Tricha: think that while they have a fair bit of gold (700 o's?), they will still have to transport it a fair way for processing. (100k's?)

Defo worth a look. Think they were called Austminex before, so maybe there is a thread on this already, somewhere.

Will be doing more research now that you've posted on it.

Cheers.

[tricha]

Focusing on Gold

Just read a report, I paid for on Focus Minerals Ltd.

Makes very interesting reading.

1 - Highlights excellent ...........

2 - JV free to carry majority of exploration next ........., with little cash burn.

3 - MMI (Mobile Metal Ion) survey identified .... new discreet gold anomalies along major regional structures with a similar trend to known gold mineralized ore bodies.

4 - ....... oz reserves.

5 - Top location,......... area.

6 - The JV jointly own the fully operational and proven Three Mile Hill processing plant with a ....... capacity

I would rate it as a take over target by the JV owner at these low prices. Somethings beginning to stir, price and volume on the way up recent weeks.

Still my pick of the penny dreadfuls.

Cheers not so [B)][}]

[Wossname]

Focus Minerals (ASX:FML) seems to be on the move again.

[tricha]

Re-Focused on Focus, yes bought back in.
Why [?][?]

1 - The gold price is getting back up there and hopefully will stay there or go higher.

2 - Announcement, High grade intercepts at Coolgardie announced 31 January, with further on going drilling.

So 1 + 2 hopefully will bring some fruitition.

Cheers [B)][}]

P.S Still a penny dreadful and a gambling stock.

[tricha]

With gold hitting $850 OZ, one more decent strike and these guys will be in in business []

Cheers [B)][}]

[tricha]

DJ Australia's Focus Minerals To Speed Nepean Nickel Mine Start
Print This Page E-Mail
03/27/2007 03:57:09 AM EDT
DowJones

CANBERRA, Mar 27, 2007 (Dow Jones Commodities News via Comtex) --Australia's Focus Minerals Ltd. (FML.AU) said Tuesday it plans to restart mining operations at its Nepean nickel project near Coolgardie hamlet in Western Australia state within the next 12 months.

"Focus anticipates completing feasibility work on the project in the September 2007 quarter, with the aim of commencing mine development early in 2008," the company said in a statement.

The project is based on an inferred resource of 409,000 metric tons of ore grading 2.38% nickel, it said in a statement.

The statement didn't specify a mining rate. The Nepean mine produced about 2,000 tons of metal a year for 17 years until it ceased operations in 1987 from ore grading 3.0% metal.

A preliminary study indicated the project could produce "a significant return" at nickel prices now ranging between A$50,000/ton and A$60,000/ton - historically high levels that reflect a tight global nickel market.

-By Ray Brindal, Dow Jones Newswires; 612-6208-0902; ray.brindal@dowjones.com

-Edited by Jarrett Banks

(END) Dow Jones Newswires

03-27-07 0356ET

[tricha]

DragonZ - "Hi Tricha
I'm always looking out for 1st year producers and have had my eye FML for a while now. I have traded in and out of FML about 1/2 dozen times over the last 2 months with some easy scalp trades and it is one of my "bread and butter income stocks". I think since the cap raising the fundamentals have got a lot better as it removed the uncertainty over debt. Hopefully there will not be too many snags with the re-commissioning of the Three Mile Plant. The cap Raising brings a degree of certainty now and with an aggressive growth strategy (and a means to achieve these goals) makes this a very exciting future.

The share price has held up well despite added selling pressure from the Raisings. At the moment the market is "churning" which is the perfect time to buy. If this breaks the 3 cent resistance then I'll be in boots and all.

This is a good medium to long term hold and I wouldn’t be surprised if they reach 6 cents by years end. You'll probably see a share consolidation soon after.


Congratulations on your buy. "

Cheers DrazonZ, good buy, we shall see, this is my third entry into this penny dreadful, so third time lucky, the last two have been losses.

With all those shares, market cap still only 34 million.

Three Mile Hill plant should go well, Coolgardie just across the road from Kal, so should be relatively cheap to support compared to a lot of it's peers.
Its as good as gold, if it blows.

Cheers Tricha

P.S thread title, I do not seem to be able to change it.

[zero]

I held some Focus briefly this year. I sold out at a small loss. I suspect it would not be differcult to find something better. They raised a lot of capital at 2 cents a share not long ago. Theoretically if they achieve forcasts they are good buying. I think the share price may stay flat for the short term but could get interesting towards the end of the year. The gold price and companies performance in proving up resource and achieving forcasts main share price drivers. Possibly a take over target based on potential and being under valued but not obviously so.