high cost producer leverage to rising price, page-21

Rod,

Can FML's recent under performance can be attributed to CRE TO?

No one is denying MML's outperformance over last few years, and its not a fair comparision to begin with, FML is a marginal producer at lower POG and hence very risky
My point of this thread was
"With rising POG HCP offers better growth potential than a LCP provided HCP cost and mine life is maintained"

Since you mentioned "market always gets it" did you noticed 6 mnths ago
SP was : Is
MML: 7.030 : 7.25 (3.1%)
FML: 0.055 : 0.066 (20%)
TRY: 3.550 : 4.25 (19%)