Mike My estimate for 4Q15 at PoG of US$1200 is for Free Cash...

Mike

My estimate for 4Q15 at PoG of US$1200 is for Free Cash Flow of US$10.2m.

Changing the PoG to US$1300, FCF rises to US$13.4m.

So an 8.3% lift in the gold price results in a 31.3% increase in FCF.

Over September 2014 MML reported that they had hauled 26,355t (82%) from levels 1-5 and hauled 5,616t (18%) from levels 6-8. So it was predominantly from the higher levels at that time. But the bulk of the haulage will progressively move lower as the higher levels are depleted and lower level stopes complete their breaking cycle and are drawn down.

Hopefully, MML will provide future snapshots of their haulage schedule as it provides a useful insight into the progress at the mine.
CPDLC