Does anyone know the rough figure of how much the WA state government is asking the Federal government to fund some or part of the port construction ? I remember seeing that they are looking at providing $300 million.
My feeling is, one of the reasons why MMX is so up the crappers is mainly because in the not too distant future it will be heavily in debt, in the construction phase and there are uncertainties about when the commodities market will rebound. This is a scary scenario in current market conditions. If the government is looking to fund a large part of the construction then I guess when this is decided and approved we will most likely see a rebound in share price although this means mmx has less control because it is no longer the entity responsible for capital raising. The government may step in and take a controlling interest, this is scary thought in itself...hence screwed either way. So the amount of money the Government will provide will make things interesting.
Another question where is Mitsubishi in all this we haven't heard a word about them for a while ??
MMX Price at posting:
56.0¢ Sentiment: Buy Disclosure: Held
