I sold out a big chunk of my MML a couple of weeks ago (in...

I sold out a big chunk of my MML a couple of weeks ago (in hindsight I wish I had sold more), but I've started buying back in.

PoG in PHP is approaching the April 24 low (when MML was at $0.90).

PoG in AUD is already back above its previous June 25th low ($1513 and when MML was $0.85).

Anything related to gold is back in the sentiment doghouse. So it's a good time to accumulate slowly.

Whilst I'm not confident that the bottom is in for the PoG in USD on the back of this rebound I'm growing in confidence that we may have found a bottom in AUD terms (nearly up $200 from it's Nov 2014 lows)

A positive development that has been playing out over the last couple of weeks is the PHP depreciating against both the AUD and USD (USD more so) which should help in keeping MML's costs competitive in an environment of thinning margins.