I think they have some chances to land decent-sized work outside FMG in the not-too-distant future. That's why I'm hoping they get the 2nd mill done sooner rather than later.
It will show potential bigger customers like OEMs that they have the capacity to boost production.
One hang is that they've been telling many people the 2nd mill was in the cards for a long time. It is only recently that they actually physically started building it (they've only recently had the capital available to build it).
So IMO many are still skeptical. But I am not, not on the 2nd mill. The rampup speed of it I'm not sure of. It will depend on how quick customers that like the product come onboard.
They've never had enough capacity IMO for larger order customers to take them all that seriously outside FMG and is one reason they've done basically nothing up until recently. FMG came onboard before FMG was even mining and probably got enough assurance to be able to handle FMG's work (it is my opinion the company basically turned away some biz so they could get the FMG stuff done on time to keep their customer happy).
Who knows, maybe I'll be wrong in the end (certainly possible with any investment). But I have not seen signs yet to prove that case and I have seen signs that keep me hopeful of my original premise.
But they need some time to prove themselves (so far they have IMO), all the while investors chomp at the bit to see the next Q or the next news. If people look further out, they'd probably settle down and ignore the lack of PR stuff and the fluctuations in Q reports. Just having the one mill has kept things choppy.
I think in the end, the people getting chased out on the lack of volume will look back in a year or two and go '%$#@'.
We'll see. Good luck. All IMO.
I don't mind stealing bread from the mouths of decadence... But I can't feed on the powerless when my cup's already overfilled.
-Temple of the Dog
"We didn't build this company on the sniff of an oily rag."
-Anonymous
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