gap, page-26

There are two things holding this stock back

Final resolution of case and amount payable. MMX and CHM are miles apart on this and it could all end up going down the appeal route.

Second part is funding.

Mitsubishi are due to put in more funds dependent on feasibilty and agreed value of IO assets. (CHM will argue this is part of accounting of profits but put that aside)

Both port and rail and IO project require billions and at the moment MMX have about I am guessing 40 million in the bank.

Everyone can say Mitsubishi is responsible for arranging funding but until they lock this away this company has big question marks hanging over it.

It has big plans which need big money and it cannot in these post GFC days come all from borrowings.