There was a small reference to CHM in the Australian on Friday and I think the wording reflected absolutely no understanding of case and merits.
I do not think market fully understands case and potential upside of CHM win.
I think MMX price has a built in discount because of case which doesnt translate into CHM price and value. I cannot see price reaching those heights until either funding is confirmed or a large player is seen to be buying.
Even at these levels mkt cap reflects a significant value on the case as that is all they have.
Traders will be back in there so price will move up and down but potential now is that as all defences are in and price has moved up this will continue.
Nothing has come out in mkt place explaining any alternative to the claim that Nicu used CHM to pay for a significant portion of iron ore asset.
CHM Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
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