Last week a few of the total numpties on this forum regarded the Mitsubishi bid as a floor. Rubbish, I say. To me it's more of a blocking bid - Mitsubishi is saying you really have to want it to beat us. Mitsubishi will drag this out, chameleon will not settle by the xxth December, MMX go into receivership when they can't meet RCF loan term. Mitsubishi picks it all up for less that $325m, or they get a new partner that isn't run by twinkle toes, snow white, and the seven insolvent fairies. Jobs a good 'un. No one knows the project better than Mitsubishi.
You have great big kahunahs to be holding this stock now when the downside risk is huge and the upside minimal in my ever so humble opinion.
MMX Price at posting:
39.5¢ Sentiment: None Disclosure: Not Held
