It has been sa shocking performer since May 06, and that is even within the smacked down PM shares. MMN has been one of the worst.
On the upside, along with CXC its the only Aus silver producer, or really pure silver play, without base metals heavily mixed in.
At 560m shares at 7c thats under $40m market cap. IF, and I say IF, they iron out production problems, at 2m oz a month (yes they are way off at present) at todays prices and $8/cost makes $25m/a profit, meaning MMN needs to 6 fold just to get to a PE of 10.
End of Qtr report should be out end of month. If they have increasing production and new crusher upgrade etc is on schedule, and improving news, hopefully the bottom is in.
Caught pianoes in the head a few times with this one though! Thank heavens I sold some at 44c!
MMN
macmin silver ltd
