MML 2.41% 85.0¢ medusa mining limited

Three separate dumps cleaning four price points in one day just...

  1. 6,756 Posts.
    lightbulb Created with Sketch. 122
    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.
 
watchlist Created with Sketch. Add MML (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.