Why do they need to produce 30k to 35k in the June quarter?
They did 21k in Q1, they say they've done 17k in Q2, so with the low end of their guidance being 85k they would need to do 47k in the next two quarters to meet guidance...
They seemed to be originally expecting 30k+ for the final two quarters (which has now been pushed back a quarter). So I don't think 20k to 25k in Q3 and a 25k to 30k Q4 is a stretch.
And of course if they do managed to do 30k+ in Q4 I'd be surprised if the share price wasn't pushing for a new 12 month high soon there after (assuming gold is north of $1200).
That said, even with the shaft completed I'm not expecting 150k next year.
I think 130k to 140k with a $850 to $950 AISC is a more realistic expectation.
I think almost everything would need to go right in all four quarters next year to do 150k and I'm expecting the service shaft probably won't be completed in July, I'll be amazed and excited if it is, but I'll be content if it's done by September.
Even at those lower expectations with gold at $1200 it's wildly FCF+ with exploration upside.
Only a few months away now.
MML Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
