Comment by mrmomoon Nov 30, 2023 9:49am
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Post# 35760744
RE:RE:Fm is DIRT CHEAP....
RE:RE:Fm is DIRT CHEAP....blackdouglas2 wrote:
"i agree with some of your logic. However, FM stock price can go much lower. Zambia mines are going to lower copper content, less production. Zambia increased taxes, panama increased taxes."
I.....personally.... don't think it goes any lower. It's already prices out the Panamanian assets, much more than they're actually worth. The cobra mine isn't worth more than half the MC FM has lost since then. And it's crazy & ludicruous to think so. As far as their African assets are concerned, even though i consider them more risky than FM's South American properties, they don't figure at all in FM's current predicament. There are worse places to mine than South or Central America, and that's ALLL of Africa & most parts of Asia.....specifically the Stans.
So this isn't something new or something that we haven't seen before, especially for Canadian mine operators, which are the usual "targets" in these unfortunate situations. EASSSSY pickings so to say......that fold quickly at the sight of some tension or conflict...and that's why THEY are the ones always being the targeted for blakcmail, monetary shakedowns or being booted out of their properties across the globe & by most third world nations. And FYI i consider Zambia another "you know what" hole and probably much worse than Panama in terms of operational risk.
"FM stock can go alot lower, or banktrupt as they have alot of debt due to Cobra mine construction."
Lower.... YES ....it's possible BUT i dont think it goes much lower as explained. I think it hovers around this level between $11 & $15 cdn until some development or updates come out. But BK??? No way dude.....that's CRAZY talk.......guys like Barrick, Newmont, Rio & a few others would buy them out at a moments notice before they even come close to any sort of BK or insolvency. And we afre VERY far away from that even being an issue right now. Those predatory vultures are probably salavating, foaming at the mouth as we speak at the prospect of grabbing FM & their VERY valuable assets all for themselves. FM has been one of those much sought after, rare indepent miners which has been on the hit list of many of these larger entities.......for a VERY long time i may add.
"think new shareholders should stay on side lines or pick another mining company., theirs still too much risk here.i hope this helps new investors."
On the contrary i rec'd the opposite....FM is THE place you want to be in not thoers. Great opportunitities, great fortunes are NOT made when everyone KNOWS or when the risks are small. They are made when there is great uncertainty or FUD and the risks are great. One of those factors, the risk factor, has been mitigated or already mostly removed by the market, which is the FM's losing almost 70% in MC. So nooooo there is NOT too much at risk at $12.....the risk is minimal here at this level... and what remains is only FUD. Which should work itself out over time as well......in FM's favor.........IF the RULE of LAW still applies in Western Civilization.
GLTA