has gold just jumped $22 to $1,200??, page-15

I agree the reaction to the guidance was "muted"...

The increase in AISC might have spooked a few investors about MML's free cash flow potential with its highish capex.

That said, until we are out of June or there is a negative update from the company, my assumption is that MML weakness is a combination of the flat gold price and tax loss selling.

As previously mentioned I think MML is going to require a bit of a catalyst to start moving markedly, but I think the same will be required for MML to fall below $0.80 (I know that's a big call given we are so close to $0.80)...

Ultimately the fundamentals of MML are better than 9 months ago when it bottomed (PoG in AUD is up 16%, production is up 61% and rising, reducing capex and exploration).

So without a major fall in the PoG I suspect that the share price weakness will see buyers step in and support it leading into the Annual report.

Then at the annual report most will reassess where MML is at, I'll particularly interest in the 2H result as I think it will be the most indicative of the subsequent FY16.