MM,
Surely the whole Oz mining community cannot be so dumb as to believe narrow plunging veins cannot continue down to great depth! Just 60km from Co-O is Diwalwal that has been mining similar structures for 50 years and followed them down several hundreds of metres until they coalesced at depth - which is what you would expect as they had to be forced up from great depth in the first place.
I don't believe MML have to find another Great Hamish - they just need to keep mining it lower for the next few decades, along with all the other veins.
Perhaps this market will be happier with a larger resource at Bananghilig - after all, that is just a simple disseminated porphyry deposit and very simple to understand.
But for now, it looks like we are stuck with a x8 p/e in spite of the large cash pile, plentiful free cash flow and exceptional growth potential. Frustrating and illogical indeed!
CPDLC
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