Hello CNCVenture, once again thank you for your thoughts. It is...

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).