Ann: Quarterly Report March 2016-MML.AX, page-40

M22 and patientvulture have identified the issue we have/or had, as shareholders, in respect of the production guidance. In the Dec. Qtrly dated 29th Feb. the guidance is unchanged from the Sept. Qtrly at 120,000 to 130,000 for the year ending 30th June. Two months of production in the Mar. Qtr (Jan./Feb.) would have been known to the then CEO, together with yield %. As we now know, there was a significant miss on gold produced for the Mar. quarter. At worse, for this FY, that is 22,000 oz. worth $27.5mil @ US$1,250, or for a 12,000 oz miss, US$15mil (ie. $0.13 and $0.07 per share respt.). I believe that is material, and shareholders should have been advised via the ASX. Given the POG is now at US$1,284 and likely to go higher, the production miss, only becomes even more significant. DYOR. I now hold a very small residual holding.