At difficulty 120 - a 1000 Mh/s will mine about 2500 MAL a day. Renting a rig costs about 0,25 BTC/1000 Mh/s . Added up = mining cost on diff 120 for MAL i 10 000 satoshi. Miners want to make a profit, so 10 000 is not really a high number right now.
The price of the coin does correspond to the cost of mining very well. Today the cost of mining 1 MAL is about 4200 satoshi, but as the hashrate is constantly rising - it will be much more in the near future.
I will update the cost of minig of MAL, but I am sure that the cost will go to 10 000 satoshi next week.
I think that the semi POS is going to be a good thing here. The only problem with lending cryptocurrencies is that there is no way of making the lender pay the loan back..