Australia's largest stock trading and investment forum Australia's #1 stock forum

X64

Click for more information

0.00%

57.0¢ ten sixty four limited

$1.27 is the two year support. POG is becoming seasonal.. I will...

First 28 Last

Share
Profile

Follow
BCJJG

575 Posts.

05/08/14

14:55

Post #: 13772345
Share

Originally posted by Kinzu ↑

When you put the 1000 worker redundancy (due to them being slack) against the mill being run 5 days a week, It doesn't add up. You do not compromise the amount of ore being fed to the mill unless there was some issue. If there was well and truly plenty of ore, you would have witnessed a large increase in tonnage while mill being run 7 days a week with a small amount of workforce being made redundant. Small being 100-200 workers.

There is insufficient high grade ore in my opinion and they are stuck to using stope ore as opposed to the regular 60% mill feed being development ore. There is something that has been left out.

At least they have no debt but they are burning through cash. 20m down to 13m this quarter and if this keeps up i fear they will have another capital raising to shore up the balance sheet. Especially with the wet season coming.

MML will close at a new 1 year low today imo and eventually reach 1.27 over the next few days. After that will the 2 year support hold is the BIG question.

Expand

$1.27 is the two year support.
POG is becoming seasonal.. I will hold MML till the Chinese New Year.. for those who visited china during their CNY in the past, you should know how it felt...

MML Price at posting: $1.33 Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

Bitcoin investors need to know the risks

ASX hits all time high out the gate on Friday trades following bullish US inflation data

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

There are more pages in this discussion • 29 more messages in this thread...

First 28 Last

Add X64 (ASX) to my watchlist