Full year result, page-6

and what kind of valuation would you put on a 100k/pa producer?

Their all in cost is likely to be 1000$, giving them a margin of roughly 300$/oz

That would mean net profit of 30m per year. P/E of over 9 atm.

P/E of 5-6 would be more appropriate given MML is a single mine operation and in a medium/high risk jurisdiction.

A market cap of 200-240m is more appropriate until they can prove 100k ounces. At present they cant even push out 70,000 ounces.