Hmm it sounds good on those numbers but they're a bit misleading. Gross profit was $41M but then there were another $10M in admin costs etc. Then the impairment charge. And the gold price received last year was US$1220 compared to US$1120 so far this quarter.
Having said that I think it is cheap down here due to the operational improvement clearly coming through with the higher grades and eventually better throughput. I'll be keeping an eye on the cash burn though. The possibility of a capital raising if those AISC stay up for the next 6 months.
MML Price at posting:
38.5¢ Sentiment: None Disclosure: Not Held
