Yeah - agree Stevea171. The Philippine government has been quick...

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guppity

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28/08/16

12:12

Post #: 18744426
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Originally posted by stevea171 ↑

The audit of mining companies operating in the Philippines commenced on Mindanao first where Medusa's operations are based and then proceeded to the other islands.

The audit for Mindanao was completed some time ago - see press statement.
Audit results are notified and failures announced with operations suspended immediately as per Gina Lopez' statement below.
Any suspension of the mine at Co-O would have to have been notified to Medusa shareholders immediately.
This has not happened.
Therefore it can be expected that Medusa passed the audit.

************************************************************************************
Audit of Mindanao miners completed

posted August 07, 2016 at 12:01 am by F. Pearl A. Gajunera

DAVAO CITY—Department of Environment and Natural Resources Secretary Gina Lopez vows to finish the audit of all mining companies in Mindanao next week.
In a press conference at Ateneo de Davao University on Thursday afternoon, Lopez said they are monitoring whether the firms are practicing responsible mining.
She said they are now auditing the Greenstone Gold Mines, San Roque Metals Inc. and Taganito Mining Corp.
“In auditing these mining companies, we will not just look on the technical side but also the social practices, what are the effects of these firms on the residences, water and etc,” Lopez said.
She said she will not be hesitant to impose whatever recommendation the auditing team will submit.
“All those mining companies who will not pass the audit, they will be stopped immediately,” Lopez said.

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Yeah - agree Stevea171. The Philippine government has been quick to shut down what they think are dodgy operators, and MML hasn't copped it.

What I don't get is why that positivity has not translated into a share price bounce. You can see from the weekly chart that the price is marking time, or possibly even rolling over.

Encouragingly, there are a number of bounce/wicks on the candles around .65; but its still nothing to write home about.

I am interested to see the next quarterly results, hoping for a turnaround ...

Go well all

MML Price at posting: 66.5¢ Sentiment: Hold Disclosure: Held
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Yeah - agree Stevea171. The Philippine government has been quick...

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