Analyst repot, page-40

If gold does fall to 1050, even temporarily, and MML's total actual cash expenditure is over $1200/oz as I suspect it is, then it's going to get ugly, not just for MML but for most producers considering the global ave AISC is around $1200/oz and MML isn't the only one that capitalises part of their cash expenses for reporting purposes. Whether MML and others capitalise part of their expenditure or not (for reporting purposes) makes no difference to their actual cash flow. The cash gets spent now and they are in negative cashflow. If gold does capitulate, I wouldn't be surprised if GS mops up all the stock everyone desperately dumps and when they have it all, they tell us all its time to buy gold and gold stocks so they can make a killing - again.

Free markets? Yeah right.