'Gaunt' Mark Vs Badge Quality

Dear All,

The Gaunt mark on the badge below seems to fall within the parameters of acceptability, though the badge itself gives me casue for concern.

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The MM measures 11mm x 0.75mm, and though very worn, seems okay and ties in with the forums 'guide' to Gaunt marks. However, the badge itself seems anything but 'okay'.

It is extremely soft and pliable, appears to be fairly poorly fashioned, no voiding, and has a general 'not good' feel to it. The only thing reasonable about it seems to be the slider.

My questions are:

a) Is the MM genuine?
b) Could the badge be genuine?
c) Could a good MM exist on an iffy badge?

I have taken a few photos of the MM as it is so small, I found it difficult to get a decent shot... please excuse the poor photography.

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With thanks,

Peter