Hi Mike,"The way the SP exploded this morning i was expecting...

Hi Mike,

"The way the SP exploded this morning i was expecting something much more significant! I thought a new 'Great Hamish' may have been found"

Just my opinion but i think the market is looking forward to the reserve update next month. The current reserve is 250k oz at 10.7 g/t. The new reserve will come from the indicated resource category which has now increased by 25% to 600,000 oz with improved grade of 15 g/t. Davis in Sydney several months ago said to expect the new reserve to be ~500,000 oz. But i think its the higher grade, which is important. If MML's production forecast of 100k oz pa assumes a grade 10.7 g/t, there could be a corresponding upward adjustment if the new reserve is nearer 15 g/t next month.

Rowingboat.