Quarterly Activities Report & Cashflow

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FML September Quarter Report

  • Focus remains in a strategically strong position with cash and equivalents at 30 September of $116.7M
  • During the quarter the Company completed an organisational restructuring and announced its Three Point Plan to drive towards its vision of returning to production as a low cost, high-grade gold producer by: 
    • Establishing a new, low cost operating structure
    • Pursuing targeted business development opportunities; and
    • Developing existing assets to establish a 3 year, high-grade reserve base enabling a profitable return to production
  • This has seen the commencement of a new four phase exploration programme in Coolgardie focusing on two primary systems hosting multiple high-grade targets near the Three Mile Hill mill
  • Drilling at the priority target of Karridale in Laverton has also confirmed the prospectivty of the area with a best result of 9m @ 5.06g/t.
  • Production for the period was 7,801oz of gold from the wind down of operations at Coolgardie.
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