Thanks for the detailed reply CPDLC.
Ok, so they are over the hump capex wise and I appreciate your estimates.
If those numbers are hit, MML will be a very different company. I cannot deny if they are even able to build up a $100m cash balance, my jaw would drop, but.. I will wait and see what happens first.
I did not realise that Bananghilig resource was so big, I guess the grades are too low for a small plant etc.
In regards to PRU, they basically are cash backed and have an E/V of zero, or at least, it was close to that last time I read up on it. They do have a fair amount of capex to go, but they have a USD hedge worth quite a lot so, pretty cheap to me, albeit in Africa which I think has more risk than Phil.
I do agree with you about the U.S gold price, but again, the FED etc seem to have quite a bag of tricks, so I am being very patient with my gold holdings.
Out of interest, do you have a spread of gold stocks?
Good luck with MML, management seem to be prudent enough to reward shareholders, unlike many goldies.
MML Price at posting:
34.0¢ Sentiment: Hold Disclosure: Not Held
