In january i read a couple of articles/presentation from Medusa...

In january i read a couple of articles/presentation from Medusa Mine (MML) based in the Phillipines. I immediately realised this was a very rich mine that despite having entered into production.... was lying undiscovered by the mkt. I bought a pile at $1.44. Since then volumes on MML have risen 10-20fold and at $3.40 MML is now part of the ASX200. I perceive several similarities between MCO and MML.
1) Both have been mined previouisly and had veins with very high grades.
2) Both had a fair amount of usuable infrastructure and completed survey work.... which is a huge time/cost saver.
3) Both mines now can access technologies unobtainable to miners even 20 yeras ago.
4) Both mines are situated in complex but very rich mineralised zones. It is almost a case of 'when' rather than 'if' one hits a rich seam/reef.
5) Both mines (despite being underground) have low extraction/production costs. e.g.MML production costs now US$200/oz.
When one can make a product for 200 and sell it for 950... well the potential profits are obvious.
Today i bought some MCO for 30c. The key difference is that MML had started production when i first bought. However, i believe MCO is not too far away from its first gold pour and once that happens the mkt will really take notice. Reading through reports and HC posts it seems the likelyhood of MCO being viable is highly likely.
So my reckoning was/is: 30c is a good entry point for someone wanting a mine with high grades and pretty close to production. A lowish-risk/high-reward opportunity.
def DYOR.