I really don't understand what some people are whinging about.
The company has a market cap of $ 170 million with $ 7.4 million debt and $36.5 million cash on hand.
It will be producing 95-100K ounces. It is totally unhedged, unlike many other producers who have 30-50 % of their production hedged under AUD $1800-$2000 for a good couple of years. MML sells every ounce at the spot price. MML has muddled along with all the difficulties without any sort of financing or capital raise.
Last time MML raised capital was in 2013 at $1.875. It is the shadow of Phillipines which is it's biggest disadvantage. If this mine was in any other place than Phillipines it would be valued well above $350-400 million.
I think the market has provided good opportunity to load up some cheap cheap MML shares. It will be above 85c soon. For me its a BUY BUY BUY at these prices. I am buying. The market has overreacted on this not so great quarterly result. Yet the company has maintained it's full year guidance of 95-105K ounces. There is a deliberate attempt to trigger stop losses. It has knocked out a few today. My belief is the big boys are trying to get the retail people out before they take it higher. The bull takes higher, a fewer people as possible. This tree shake action is necessary before the stock is taken above $1.
With a very tight share register MML will run very fast when the time comes.
I am loading up and will try to remain patient for few months.
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