Hello CNCVenture, once again thank you for your thoughts. It is exactly these kind of discussions about the true value of MML which lead to a true value for MML in time. The POG for example is very important in the next few years. I always like to be quite conservative about it, but I can make up a thorough story for a POG north of the USD 1.700,- per OZ (there is so much (digital) money created that the "funny money" is almost worthless). Also I am conservative about the production level for the FY 16/17 because the infrastructure work currently going on will put pressure on the production next year. Another important point is of course the ROC for a company like MML. I put a 18% for now and this will decrease towards a 14% level after the work in the mine is done. It is true that you can have a discussion about the level. Perhaps it will decrease to the 10%-level, perhaps not. It is the point of direction which is important. For a company like MML there is alway's the possibility that a bigger mining-company want to buy MML to add to its gold reserve's. And they will pay a premium. So I am positive for the future of MML, because gold is a sought after product, the management of MML has the opportunity to improve a lot of things so that the risk premium can decrease and the production level will increase. For me as a European investor I also like the AUD. I think it is fluctuating on the lower side of the long term bandwidth. I believe in the economic future of Australia. You are close to Asia (the fastest growing part of the world). A lot of intelligent people are willing to live in Australia and you don't have the political problems we have in Europe (take for example the refugee-crisis).
MML Price at posting:
74.5¢ Sentiment: Buy Disclosure: Held
