Ann: Co-O Mill & Mine Expansion Update April 2013, page-9

re: Ann: Co-O Mill & Mine Expansion Update Ap... Hi holymoses,

I would agree with your comments on their production guidance. They seem to be following the Don Voelte approach (WPL) rather than the Terry Burgess (OZL) or the Dr Brian McNamee (CSL) approach.

Over promising and under delivering is a problem for many companies, and MML seems to be part of that.

MML has great grades, great C1 costs and great growth prospects. They have been poor at managing expectations.

I am not sure that I would agree that they have bitten off more than they can chew. They have taken bitten a big mouthful and it is causing them some difficulty in swallowing it, but IMO, it is going down.

HT1

P.S. keep up the posting Magisaster.