MML should probably be trading at 60-80 cents if you compare it with TRY, on the basis of its 12 month performance.
Things must be pretty bad if they had to sack the CEO.
I have to assume they have badly run down their cash balance to $6-8 million and are not making much progress in raising gold production.
Perhaps if they had kept going as they were then they would need to do a capital raising, is what I can tell from their accounts. At end 2013 they had a USD6-7m debt plus USD20m in current trade payables (which is not that bad so long as you are making money).
It is best to leave this one well alone until they prove themselves worthy of being investable. On the basis of the last quarterly report they are basically a loss making operation. Next quarterly could be worse. MML has become the latest "loaded dog" of the ASX goldie universe. Just like PRU, KCN, TRY, etc it is deflating to a realistic value, and it is not clear to me that the new management can turn this ship around.
Furthermore the direction of the POG is not helping.
loki
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