I had a nibble today and picked up a few @$0.29.
I'm not sold on MML's longer term prospects, and I've been disappointed in operations, but in the last 48 hours the gold price has technically started looking better and it's ratios against SP500 and USTs are approaching interesting levels...
Why express the gold trade via MML...? I think MML is currently priced as a higher cost producer (which it presently is) that is exposed to a short term cash squeeze and cap a raise, which are real risks with volatile operations and the gold price between $1000 and $1200...
So with gold looking interesting technically, if the gold price moves another $20 to $50 north then I think both of these major negatives will cease to look like potential problems and it may re-rate accordingly.
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- Time to buy some shares again ...
I had a nibble today and picked up a few @$0.29. I'm not sold on...
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Dusko Ljubojevic, MD
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