CHM’s big chance to cause problems was in MMX getting funding for the infrastructure tender and submitting the RFP.
That has happened – MMX/OPR has received funding from all the major Australian banks plus some international banks. The tender has been submitted on time – and
Therefore CHM has failed.
Fair enough, you could argue that the prospect of a takeover of MMX might give CHM some leverage.
But firstly, I don’t believe MMX management or shareholders want a takeover in the near future. The full value of the company is still being proved up by drilling etc. so a takeover now would undervalue the company.
Secondly, Sinosteel is not stupid. If they want MMX they will look at the facts/evidence, see that the CHM case is a dud, and then proceed.
CHM Price at posting:
0.0¢ Sentiment: Sell Disclosure: Not Held
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