Bananghilig resource is 16.06mt @ 1.5g/t Indicated and 8.46mt @ 1.4g/t.
This was all at relatively shallow depth and was also 'free dig' for the first 50m or so. So obviously to be developed as a straightforward 'truck & shovel' operation rather than the narrow vein swarm at Co-O.
However, during sterilisation drilling to locate an area for plant infrastructure they began to hit higher-grade intercepts at deeper levels. So this rather changed the whole perception of that resource - but there it has stayed due to the focus on expanding Co-O during a collapse in the gold price!
I hold around 25 PM stocks and have been very focused on trading the 'Zig-Zags' in order to accumulate at lower holding costs whilst prices are so depressed. So yes, I feel that I have a reasonable spread of stocks that I feel offer good value.
I know history does not always repeat itself but the current situation feels very similar to the lows of the GFC in 2008. Subsequently the rewards were significant and MML alone ended up paying me annual dividends that were equivalent to c. 33% of my buying price at the 2008 low. Like several of my other gold holdings it eventually climbed 20-fold.
No guarantees of course. There never is with any investment. But on a fundamental basis MML, along with many other gold/silver producers, sits at an extreme undervaluation (in my opinion of course).
When viewed against the extremely dangerous macro-economic conditions prevailing world-wide, this anomaly would appear to offer huge upside potential in a likely imminent credit bubble collapse.
CPDLC
MML Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
