Eric Ripper the Deputy Premier of WA has accussed MIS of misleading Chinese investors in the company as to the viability of the 30 year old agreement.
Now here is more danger for MIS.
If Ripper has solid evidence of misleading statements then it is possible that MIS and/or its managers could be sued by their chinese investors and also possibly by MIS shareholders for deceptive and misleading conduct pursuant to Corporations Law.
I wonder who will blink first.
In any case MMX now looks a very good bet to succeed in their ambition to become an iron ore miner and an infrastucture operator. This will be excellent profits for mmx in 2010-2011.
MMX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held