I am sure CHM will not accept $25m or less. They will negotiate with Mitsubishi first and foremost. Tony Sage of Cape Lambert is probably in their office in a matter of days. Could be considered as the "white knight" for MMX - NOT.
Anyway if it is $25m that is about 1.3 cents of cash per share at face value.
Who knows but at some stage CHM will be gone from this ludicrous saga - guess they have in a way killed off MMX as an Australian company (subject to FIRB approval).
By the time Mitsubishi gets Oakajee sorted the mining boom may be well and truly over.
Pretty pathetic tale - heaps of lawyers fees, fair bit of price volatility etc. Wondered what would have happened if MMX had made a settlement ages ago with CHM.Never know will we.
Goodbye and Goodluck
CHM Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Not Held
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