MML 0.00% 72.0¢ medusa mining limited

Ann: September 2020 Quarterly Report, page-35

  1. 3,241 Posts.
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    GroundHog2, keep up the lonely work mate... appreciate your posts. Here are facts as I see them:

    1) The company is undeniably a CASH generating machine. In the last two quarters, production of 50,310 ounces at an average sales price of $US 1840/oz increased cash & bullion by 100% ($US 32.2m) to $US 64.7m. The market cap is $US 127m.

    2) Top 20 shareholders hold 83.6%. Retail investors have long given up on the stock (including me) but is this rear view mirror?

    3) Sept quarter: promising exploration success at the Royal Crown Vein prospect (67m @ 5.7 g/t including 30m @ 5.9 g/t and 22m @ 8.1 g/t). The project is very near the mill and a potential supplemental ore source.

    4) For the moment MML is ahead of production guidance but may upgrade later in the financial year. It was mentioned on these threads that the underground contractor changed just prior to Covid, I wonder if Byrnecut is a having positive impact on productivity?

    If the gold price holds up (>1800/oz) a re-rate is inevitable with the cash being generated, IMO.
 
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