surfie sos, page-2

yogis,
sorry for late reply.

i sold mmx some time ago and i have not bought back, yet.

BUT i watch mmx closely and will buy back sometime in the next 2-3 years.

On the upside - It seems sino is accumulating. But not rushing up to their limit. sounds sensible from their point of view.

However, it seems to me sino has a problem. They are entitled to go to 49.9% of mmx so in total they cant control the mine or the infra. They may eventually walk away unless they can get the FIRB to change the limit.

No debt and $160mill cash is good.

Yes mmx have secured a 50% interest in the port and rail construction and infrastructure. They may float the infra company to raise the extra cash required. with the govt contribution it should be good deal. However, this is all 3 years away. I will return to the share when its a little closer to completion.

On the downside - prices are down, quality is not as originally expected and trucking to geraldton is expensive and will continue for about 3 years.

I reckon the chm litigation will be a win for mmx later this year but will be a drag on the sp till then.