Weekend Ramblings 10th September. — ASXnewbie.com
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Weekend Ramblings 10th September.

The market in general was relatively flat excepting the gold sector. As I mentioned last weekend I gave you FML (Focus Minerals) to research. As of today they have now progressed into the ASX300.

Focus Minerals also are currently taking over Crescent Gold (ASX code CRE) They currently own 83.2% of the total shares. Once the takeover is completed FML will be in the top 5 gold producers in Australia.

Newcrest Mining (ASX code NCM)who are our largest gold miner are currently sitting on around $40.00 per share. FML is sitting on around. 0.071 cents per share.
Which way do you think FML’s share price will be heading? It’s a no brainer really.

Below I have posted some background information for you to look at.

Business Description

Focus Minerals Ltd (FML) is a based gold producer operating in Western Australia’s Eastern Goldfields. FML holds the mineral rights to more than 305 sqkm of tenements in the Coolgardie Gold Belt located in Western Australia. FML focuses on its flagship operation, Tindals Mining centre, in Western Australia.

Company Strategy

FML is aiming to grow the reserve base, expand mining at Tindals Mining Centre and, fast track development at The Mount Project. The company is targeting sustained production of 130,000oz by 2012.

In next weeks ramblings we shall have a closer look at the Energy Sector.

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