Not obliged. Only need to if cause to believe the figure in the half yearly will be materially incorrect.
The only inputs to the calc that could move significantly are capex (based on today's ann) and forecast revenue driven by the POG.
Probably enough of an argument to leave well alone now, but see a clip at 30 June if the pog is still a distance from the forecast.
Either way those development costs are a an expense waiting to happen. Prefer an orderly amortization, but impairment due to forecast price may only be a problem if well under, noting that when they come to mine and sell the price may have sprung back and their thought process at the time won't be impeded by the discount by wacc. Negative change in resources as an input would be worrisome.........but no indication of that since the last resource report.
MML Price at posting:
38.0¢ Sentiment: Buy Disclosure: Held
