Latest Seeking Alpha Article, page-3

The latest R&R statement didn't make for the great reading...

The only thing that didn't disappoint was their willing to finally put a figure on the expected AISC (they've been avoiding that sort of public statement for a long time):

These improvements should reduce the All In Sustaining Cost (AISC) to approximately US$850 per ounce once E15 is complete.

So if the MML management are to be believe then $1000 is being extremely conservative, but I wouldn't blame someone for taking more than a grain of salt with what they read in MML reports these days.

That said, agree with point about MML is now carrying debt (will be interesting to see the EOFY balance sheet), and whilst the gold price is co-operating at present, their guidance for first two quarters of this FY look bleak, so there isn't much margin for error until that service shaft is complete...

As such I wouldn't be surprised if the market is willing to wait until late in the year before it begins to price in the high FCF "potential" of MML.