A 6% fall today definitely has me watching.
Gold is down a lot in the past days and weeks, but yesterday's ~2% fall in AUD gold price doesn't warrant a 6% fall in SP. If MML's margin was slim then a 6% fall might be reasonable, but with such low costs a 2-3% fall would have been more fair.
AUD gold is down another 2% right now, so I'm expecting another 5% fall tomorrow then I can buy in for a really good price.
I own KCN which is a mid-cost producer which is set for a bumper year of production in CY2012, the stars are aligning for KCN but the SP really cheap. I would buy more KCN but I have enough, so I'm diversifying into a low-cost producer - MML.
The main question I have though is this - what is the political risk in Philippines like for MML? I saw Freeport in Philippines having a terrible time with militant striking lasting months.
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