MML's Q2/HY report was put out half an hour after the ASX close...

MML's Q2/HY report was put out half an hour after the ASX close (Friday) with Monday a public holiday. Teo the sly fox is an expert at hiding bad news after plenty of practice ...... !!!

Terrible update across all metrics but no one can trade the results till Tuesday!

To some extent I have followed Miningnut. Thanks Miningnut for your informed posts. I have been selling down my MML holding and finished selling approx 50% of my shares on Thursday night which was a lucky break in view of the report which only came out later. I've been putting the funds to good use reinvesting in LSE listed gold miner Petropavlovsk (POG) which is in 'turn around' mode, up 36% since starting this transfer and should at least double this year.

Interesting that the Q1 report says that cash increased (unaudited) from $23.4 million to $31.1 million. Now we are told for Q2 the cash has apparently reduced back to $25.0 million. So for H1 cash position has improved by only $1.7 million with no major capital works or exploration in progress and with a much improved gold price of approx $1500 throughout that period. Without that gold price increase they would have made a loss.

Also interesting that just a few weeks after they announced a cash position of $31.1 million there was an AGM at which the BoD's were fighting for their lives. I don't suppose that could have had any influence on the numbers they announced just prior? Would Accountant Teo window dress the numbers in this way knowing that no one can possibly find out and once the AGM is over and they get the spill resolution rejected they would be in the clear for years to come?