The good thing about the operation (if managed well) is that it will be profitable at even the lowest POG forecasts. That separates MML from most other gold producers and would be high up on the list of "assets to own" of other more established gold producers. With the share price at current levels leaves considerable margin for the larger/competent gold producers to make a play for MML
On a separate note, although the management has forecast FY15 production of around 140-160koz, I have assumed in my analysis production of 100koz pa. That is about 40% improvement from current run rate - not easy but possible
DYOR
MML Price at posting:
$1.37 Sentiment: Buy Disclosure: Held
(20min delay)