"Phillipines government very protective of a healthy golden...

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jogo

4,231 Posts.

1224

20/04/20

19:56

Post #: 44150749
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Originally posted by Pedro2: ↑

What a great day to top up on MML! - for multiple reasons apart from easing gold price over the weekend (all goldies down today).
in summary:
1) Covid19 is no more disruptive (and likely less so going forward) to MML in terms of local only labour restrictions than it is for any Goldie operating in Oz eg. Kalgoorlie region. No cases reported.
2) Declining march qtr AISC of $1,118 per ounce (Dec 2019 Qtr: AISC of US$1,346 per ounce), (guidance AISC of between US$1,025 to US$1,125 per ounce)
3) Unhedged and increasing gold sales into rising gold price ~$1485 p/oz December qtr (20,760 ozs) upto ~$1601 p/oz march qtr - sold 23,669 ounces
4)Co-O near Mine Exploration delivers high-grade results in resource drilling included 1.20 metres @ 96.11 g/t gold; 0.25 metres @ 74.15 g/t gold; 0.95 metres @ 20.29 g/t gold and 1.40 metres @ 16.29 g/t gold
5) The Company produced 24,802 ounces of gold for the quarter, a 19% improvement on the previous quarter due to a much higher head grade (and strong 95% recovery rate)
6) In Co-O’s 12 years of production history, the original Ore Reserve has been replaced five-fold, showing the robustness of the deposit. The understanding Medusa has built of the Co-O ore body during this time has given a higher level of confidence in the future Resources and Reserves
IN OTHER WORDS: Study into accessing and mining below level 12 completed with commitment to development of a decline - ULTiMATELY LIKELY TO RESULT in significantly greater Reserves.
7) As groundhog2 mentions: 50% annualised return, Rising ~aud$12m quarterly profits
8)As at 31 March 2020, Growing total cash and cash equivalent on metal account of approximately US$32.5 million (31 December 2019: US$25.0M).
9)$0 net debt with a running bull gold price!
10) Phillipines government very protective of a healthy golden goose especially in such times

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"Phillipines government very protective of a healthy golden goose especially in such times"
On yeh? Try telling that to OGC shareholders! Their very successful mine at Didipio has been closed down since July 2019 because of politics. RED also had to close their mine at Siana because of Government policy.

MML Price at posting: 50.0¢ Sentiment: None Disclosure: Not Held
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"Phillipines government very protective of a healthy golden...

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