CHM have never had any legal title to this claim. My understanding was they had an agreement in principle with a past holder of the tenement for a JV - and then went into liquidation. In liquidation they were in no position to take their part in the JV so the legal owner sold the tenement. Note that the tenement in question is only a part of MMX's land - most of the minig lease at Jack Hills and all of it at Weld was pegged by MMX.
The legal document from CHM is typical legal twaddle. Claim everything including things which you cannot possibly get because Judges feel they have been "fairer" reaching a compromise deal - and if CHM start off claiming half the earths surface (which these greedy mob would have if they could) then the Judge may feel giving them "Just" Jack Hills based on a weak case is somehow "fair".
The moment MMX launches a countersuit CHM are insolvent. Case closed.
Maybe CHM are hoping MMX will launch a takeover of them to quash this legal action - then of course the directors (who launched tis corrupt action) would make squillions. I'm sure they know there is no hope - but are slimy a-holes and have worked out they could make money several ways off this - I can't imagine this ever even reaching court. The good thing is that the countersuit from MMX will take it all back - particularly a countersuit directly of the directors - take away that slimy lawyer director's Beemer and flash house - what a shame!
MMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held