Ann: Quarterly Activities Report December 2012 , page-3

re: Ann: Quarterly Activities Report December... Hi cpdlc,
I am not yet a holder, am watching and waiting.....

The issue for me is that MML is getting a reputation for guidance downgrades....

The C1 was excellent, yes there is growth coming and yes they are in a development stage, but they do not seem to allow for any issues of risk and drift in the timeline. The grade at Banaghilig is excellent for an open cut mine.

The other question is the Phillipines govt and the tax implication for Banaghilig. Until that is resolved, you would have to discount the mine volume.

So, IMO, some good points, some not so good points.

HT1