has the co-o mill been commissioned?, page-11

AverageJoe,

No problem.

I try and stick to my own interpretations of value irrespective of the current market action.

I have dropped out of quite a few equities - mainly those which need financing or will not have meaningful cashflow in the shorter term.

But I have banked up on those which appear (to me) to represent real value opportunities in a dire market for PM stocks. High on that list has been MML.

I see no reason to doubt their ability to maximise their earnings from their significant inward investment in mine and plant expansion.

The gold price is important but, unlike most mainstream producers, MML has potentially great profit margins at current PoG so, on the balance of probabilities, they should quickly recover once production rises and costs fall back to sustainable levels.

No guarantees of course, but given their record of out-performance over the 2008 - 2011 period I am pretty confident that repeatedly doubling-down whilst the sector sold off will prove highly profitable in the medium to longer term.

All the best
CPDLC