Ann: Quarterly Activities Report March 2017, page-3

Cash levels dropped AND they managed to rack up $5m in debts this quarter...

I was expecting them to tread water this quarter with a strong Q4 so this looks negative to me.

Only 18k oz for the quarter puts a real question mark over their ability to hit FY guidance. Which is horrific given that they've already downgraded guidance this year!

Whilst there was some progress on the E15 shaft it looks doubtful it will be operational in July.

Don't expect the market to be super excited about this report beyond starting to look forward to an overdue R&R report in Sept/Oct after their extensive resource drilling.

I think we will be waiting until at least the Oct-Dec of this year for anything really exciting out of MML and who knows what other problems MML could run into between now and then.