Ann: Quarterly Activities Report December 2012 , page-23

re: Ann: Quarterly Activities Report December... MML has been hammered today along with the rest of the market, but heres some food for thought.

This Calendar year MML somehow misses guidance in a big way and only produces 90,000 ounces (they aim to produce 120,000) and lets say the gold price drops to 1,400 and they total costs are $400 an ounce.

On 190 mill shares, thats a P/E of 8.34 (EPS = 0.47)

That's a pretty 'worst case' scenario, although obviously gold could go a lot lower. It seems unlikely to me that gold drops too low though as most central banks continue to print money, each year gold is mined theres less in the ground, and if it sinks too far half the current producers disappear.

Even the above scenario with a gold price of $1,000 has MML on a P/E of 13.90 currently. I'm not buying more just yet as I'd like to see gold and MML's prices hit some resistance, but when they finally do.... could it potentially be the best midcap bargain of the year? Maybe i'm just having some thursday madness