CPG I know you've been on HC for ages now so I think you're safe ;)
I hear what you're saying about the Mitsu issue and the infra tender but I don't believe that CHM will affect those plans. It has caused me a moment of doubt at times but after thinking about it I'm not worried.
As EvenSteven stated in a previous post, comments from MMX lawyers could simply be courtroom strategy.
Regarding the tender process, MIS has their own arguably worse issues than MMX. MIS are being investigated by ASX/ASIC and I also wonder about their relationship with Yilgarn - they have not exactly coordinated their announcements or talked recently about the strength of the Yilgarn/MIS relationship. Yilgarn also admitted that the time to deliver the tender would be challenging, which suggests MMX is ahead in planning.
The WA govt. has stated that the only issue they will be looking at is "the capacity to deliver the infrastructure" (rough quote from a press comment from the minister Alannah Mactiernan).
Even if there was some worth to the CHM claim, it would be quite easy for MMX/Mitsu to structure a contract so that Mitsu is not harmed if CHM wins. So there is no reason for the CHM claim to have any impact on the tender or the Mitsu payment. And without that, CHM has no leverage - and therefore I severaly doubt they will win the case although they might get a small settlement (even if they get a settlement I doubt it will be enought for CHM shareholders to make any decent money though).
The CHM issue has been blown out of all proportion.
MMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
