That's a real shame Shak, I hope for your sake and other holders here they can not only improve the communication to shareholders queries but also be transparent to the overall market. I get the feeling their is a bit more pain to come in terms of low production together with a nervousness I got reading they were re-evaluating their JORC. It could be nothing but I get the feeling that as they are consistently feeding lower grade despite what a few others have posted regarding stoping etc that their will be a reduction and I dont think that has been factored in yet.
I am also concerned that they may need to raise more funds and that this will occur at recent lows. I hope for holder sake I am wrong.
I was on the record for saying the market cap should fall around the 200-240M mark. I actually think now redoing some sums that it will probably fall further than that in the short term as SP generally tend to overshoot and undershoot.
Im not one that overally relies on TA however my thoughts are that this will bottom around the 75-80 cent mark and I will be looking to get back in on the following;
- maintaining feed grade above 5gpt
- maintaining above 90% recovery
- increasing tonnage whilst maintaining the above
- open communication from management. (this is a must for me)
- increasing cash on hand or bullion.
Im ok to miss some of the upside waiting for confirmation of these however I also wouldnt be surprised to see a rally in the POG in the coming months and it will be interesting to see what happens to MML as my understanding is it has been heavily shorted so may see some short covering.
All the best to holders (I took a haircut on this one) and hopefully will be back holding on a turnaround.
MML Price at posting:
$1.19 Sentiment: None Disclosure: Not Held
(20min delay)