Three separate dumps cleaning four price points in one day just as it looked like rising to 32c+.
I'll assuming it was just one or two sellers on the day wanting out and that it's not leaking like a sieve.
Can only see two announcements this month, a positive one for the annual statement of Resources and Reserves to 30Apr17 and a negative one(as viewed by the market) being FY17 Impairments testing result followed by the FY17 Annual Financial Statements on 31Aug.
Can't see a capital raising even though they had to make an $US7.5mil Corporate Tax payment in June and borrowed this amount as the cash kitty was bone-dry - this increased borrowings from $7mil to $15mil. The $11.5mil reported as cash and gold for settlement was mainly on the gold account and some 'restricted' cash to cover rehabilitation provisions and employee retirement entitlements. I believe the gold for settlement period is around a month so there is about $2.15mil coming in each week from this that should prevent the need for a capital raising as weekly costs are only $1.85mil.
MML Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held