a ripping yarn, page-14

Hi Rowingboat,

The lack of volume in London has surprised me, particularly when they moved up to the main board from AIM. However, because of their incorporation in Oz they cannot be ranked within the FTSE indexes, which might be an issue for some Institutions.

I also think the lack of liquidity in London has been an issue as MML have not needed to place shares since early 2009 so there has not been the preferred route for Institutions to take large holdings at a stroke.

I think that the same issue of liquidity affects the volume in Canada, which has also been very low considering the mining-savvy nature of that market.

However, I cannot complain about anything that MML has done and continues to do and any company that avoids excessive dilution has to be applauded.

I don't think there can be any issues with the Philippines amongst the mining fraternity in London. After all, ALL mining companies operate off-shore UK, so it tends to be an outward looking investment community by definition.

In spite of the ASX remaining the main market for MML I am very happy to continue holding through their growth phase and to enjoy their dividends along the way. I only wish I could find more companies that execute on their targets with such regularity and reliability as MML.

All the best
CPDLC