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Thread: Gold

  1. #8101
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    Quote Originally Posted by younga View Post
    Any thoughts on MML......gold miner in the Philippines....off the top of my head, the market cap is $150 million at 70 cents and my projected net profit after tax is over $50 million....in my eyes, too cheap. I bought $1000 at 64. Anyone know why it's so cheap?
    I had a quick look over the stock, put it on my watch list. It is cheap with the PE and cash. Should get over a dollar soon I would guess. But investors are wary of Philippine stocks and the management don't look inspiring. I am guessing the AISC at around $1200 is higher than it need be. The Filipino miners would be getting 10% of the wages of miners in Aus. I would guess a fair amount of expenditure would be to keeping various groups happy. There always has been quite a bit of corruption in the Philippines, wether Duterte is getting it under control or not I don't know. The Muslim seperatists must be in the area. Social expenditure in the surrounding community. I would guess investors are spoilt for choice of gold miners in the ASX. A lot of the best mines seem to be overseas, but come with sovereign risk. WAF is an example. I am trying to buy some MYL this morning. Good luck.

  2. #8102
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by zero View Post
    Look at the country risk for the Philippines, I suspect a few investors would be discouraged from what has occurred with foreign miners there in the past. I believe Tampakan is still waiting for a mining permit?
    Sorry can't work out how to delete a post.
    Yeah rather not have my funds at risk in any of these nationalistic nations if economics and unemployment gets worse likely in 2020's Depression then for sure foreign companies making millions will be attacked first ...best case higher royalty taxes ..worse case you lose the project you spent mega millions on..

    .... have been burnt in South Africa ...we are really lucky having Aus next door with many of the best miners in the world and great prospective country why take the risks ....
    People don't have ideas, ideas have people

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