I too sold down most of my position ahead of the recent mine...

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cncventure

812 Posts.

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29/08/16

15:41

Post #: 18767232
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Originally posted by loki01 ↑

I would not expect much from this dog until they have completed the service shaft. Once it has been completed I suspect they will be a 140k ounce pa producer at around USD900-950/ounce AISC. I think we will have to wait until the second half of 2017 for the share price to get above $1 on a permanent basis.

They have the cash on hand to fund the service shaft and are in a sound financial position for what they are trying to achieve (not a whole lot really). The mine is operating for the benefit of the locals and its management, and not for the shareholders. At least share dilution has been minimal over the years (think SLR, RMS, BDR, etc), but its BOD is in need of replacement.

My expectation is that the local community is getting such a huge benefit from the mine and due to it only having a small impact on the environment it will get the tick to continue operating, but perhaps they will try to extract even more of the surplus from the mine for the Philippines.

I sold out my holding a while back and have bought back about 60% of what I sold.

MML will remain a dog with a few scraps thrown at shareholders.

loki (willing to change my mind on MML as new info comes to hand over time)

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I too sold down most of my position ahead of the recent mine audits and underwhelming 2017 forecast...

But with the price dipping into the lows 60s today I've become a buyer again.

Mathematically I'm struggling to understand a SP at those levels. And if it goes lower I'll struggle not to buy more.

Last edited by cncventure: 29/08/16

MML Price at posting: 63.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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I too sold down most of my position ahead of the recent mine...

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