Undervaluation, page-19

The MML's board ears must have been burning as they had made an announcement of the downgrade only 8 hours later...

Unfortunately it seems my concerns about the share price getting smacked hard were unfortunately fortuitous as well!

But I wanted to say that today I took the chance to accumulate some more at 43c on close.

The announcement whilst disappointing I think only warranted a 5c to 7c sell off.

The gold price continuing to push higher over the last few days makes me think that at these gold prices cash burn may be less than feared and sentiment for MML could snap back sharply as the market refocuses on what MML's operations will look like once the service shaft is completed later this year.

And on top of that the continual outflows from the GLD ETF seemed to have finally stopped, which will hopefully be supportive of gold prices going forward.