MML is extemely cheap because of it's unfortunate location the Phillipines. It's over $1.50 stock if it was in Australia, if not even higher. I think it should get close to a $1 mark in a few months time.
The buyers are hesitant to buy because of it's location.
The sellers are reluctant to sell at these prices when they know the company is making decent money, it's fully unhedged production(probably the only miner in ASX gold sector), hardly any debt, a decent cash on hand (enough to pay a dividend), a very low enterprise value, less than many ASX explorers.
Here we are a 100K 0zs established producer with many more years left in the LOM.
Many don't know is the last time MML raised money from the market was in 2013 at $1.875.
It powered through the entire gold bear market with lots of operational issues, the Phillipines government (Duterte), hurricane Gina( the then environment minister).
MML share register is as tight as a fish aa...shhh.
Top 20 hold 80% of the share register.
I think it's a matter of time when the market realises and joins the share register.
One thing I must add is....MML also needs a proactive leader.
One who has plan to grow the business and not just live hand to mouth comfortably.
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