It's out now :). It's looking fairly positive with everything...

It's out now . It's looking fairly positive with everything we've all been talking about on track. The new service shaft will be ready mid-2016 thus allowing the L8 shaft to be used solely for ore and waste. This will certainly allow the company to meet its target of 120-130kOz for FY2016. The next quarterly will allow us to realise whether this target will be met. I am convinced that management know what they are doing and working hard to deliver results. The impairment charge we all knew about and is expected with the low gold price environment.. many other goldies have done the same.

One thing that didn't make sense with the L8 shaft is that in Jan 2015 the hoisting capacity of the shaft was increased to 60,000 dry tonnes per month. With the service shaft completed the L8 shaft will move rock only and its capacity will increase to 1,700 tonnes per day. 1700 x 30 = 51,000... so not quite getting to the 60,000 which means there will be still be room for improvement?

Either way they are on track and providing the information. I trust they will continue to meet guidance and report accurately which is all I can ask since some companies can't even do that...

Unfortunately the current report won't help the SP. The next quarterly and maybe the March 2016 quarterly might help in that sense but ultimately holding MML in this gold price environment will require patience. I am happy to hold and wait because I know the issues with the SP are TRANSITORY. This time will pass... they will have AISC below $1000/oz once the service shaft is complete and the L8 shaft is maximised.