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That's a ridiculous comment !! "this isn't undervalued at 115 because you can only sell it for 111 or thereabouts" ...the whole point of investing is to buy low and sell high, I try to do that by getting into a share when the market hasn't awoken to the true value of the company. For example, the price of MML has fallen from 400p in the last year. This can be based upon various factors (gold price, delays, dilution, unexpected occurrences etc) however, whilst this has happened the company has made monumental progress with the new mill, financial position, cost cutting and producing and selling over 25,000 oz in 6 months...despite delays and production problems. The value increase as the company ramps production to 200,000oz will be significant. I don't think the market has even started to price in this hope value, which is becoming a reality. Another fact is, being one of the lowest cost gold producers, there is a large safety margin. Should the price of gold fall significantly, it will become nonviable for the majority of gold producers to keep producing..as they make a loss. Demand with Chinese and Indian buyers is not likely to reduce significantly, and therefore once supply reduces significantly, the price will stablise. . and grow. Would you agree?
Yoggie, so you don't believe this is undervalued at 115p ? Despite the progress that the company has made recently and the price of gold pretty stable between $1200 and $1300. I might put together a chart to show the price of gold over the last year and how it correlates with MML. Graftman, how big is this gap at 92p? Surely not all gaps get filled?
And all of a sudden sells taking it down to 108?? Gold at $1258...which isn't bad really! We should be in the 120's
Any deals today ?? I can't see any trades at all
Well further tapering.. Gold up to $1270...let's hope it keeps going!
Need to stop holding out for the 110p top up and just dive in at 112p-115p ..another opportunity missed
My stop is set at 100p...in all honesty I never thought we'd see that price again and I still hope we dont. It'll be a kick in the face if I get stopped out there. This RNS is just a hiccup, we'll have an rns in a couple of days stating that we are back up and running..no worries
The bad luck never stops for MML
Yeah good move trade. I wish I'd been able to short it...having missed the leg up. Once a share has risen 600% in a matter of days on AIM , it is not staying at that level...I feel sorry for newbies when this sort of thing happens and they follow dillusional posters on the BB's.
That news could be taking the price back down near 1p . . just be careful
Yes I don't think any of us are in a huge rush for profits here. I'd rather a steady 2% per day to 150p than 8-10% then retraces. I get my excitement from GWMO at the moment lol
Lol sorry...I was thinking on the what you could buy for 5 days ago and what you can sell for now basis..but probs still way off. GLA anyway, I'm pretty gutted I didnt click the place order button this morning
it's done almost 500% in 5 days
put LON:NOVA in when on google finance...whoever is buying now has balls!!! either that or they are just downright mental
kicking myself masssivelyy ! had a quote for just £1k at 1.25p this morning, thought ...nahh I'll just stick with GWMO as my big gainer/big risk ... idiot ...should have been more ballsy! But wouldn't dream of investing at this price now. careful people
Gold up at $1259 ..hopefully MML will react. Target on our chart still stands at 144p so should see that in the short term. Fundamentally, I think we can go much further. I am regretting not topping up around the 115p mark.
Why would you sell? Is it because of your worries about the Price of Gold? This company is by far the best positioned producer to deal with a drop in that price. Top up opportunity again at 110p I agree Alexia
Well price of gold is doing ok atm..I thought we'd have much more of a rise today (like POG) but this is generally a day or two behind
I suppose a point that could be viewed as a negative is that the board want to grow the company organically. That means without getting large debt financing (which is what POG have done). The negative of this is that growth could be slower than it would be with a large injection of capital, the positives of this is that it's safer and less costly in the long run. I can't think of anymore negatives atm...the company had a tough year with unlucky circumstances so I'm hoping 2014 goes a bit better for them
Back up around the $1250 mark.