Just watched the 2nd episode of the 2nd series downloaded from itunes.
I think some of the concerns raised are whether or not the development costs are being amortised commensurate with the value left in the ground. Some appear to be fearing too much is being left on the books.
I'm not a miner, nor an engineer so I have no informed opinion on the matter. Maybe the future value is there, maybe it isn't. Can only suggest that short term punters don't think it is there, certainly not at $1,230 an ounce when costs are $1,238 an ounce.
I on the other hand a mid to long term punter (only cos the good ship 'Skyes Chance Dare' has been run aground by a drunken Cpt at $1.20!!!!) and believe there is enough value there there to float my boat again.
An impairment of those development costs or in other words lack of forward value in the ground, the fear of the short term punters (other than the poop POG), is what I believe will keep me on land a while longer. Having some fun T3 trading out of a buck twenty and into the current share price in the meantime.........think my platform provider is going to put me in the naughty boy corner for a while though as I have not been able to get in and out in time.
MML Price at posting:
68.5¢ Sentiment: Buy Disclosure: Held
(20min delay)