well its a panic sell...this US downgrade will have hardly any impact on murchison...they are few years away from production so even if china will slowdown it will have no impact..infact new buyers will be looking around to get mmx cheaper by taking advantage of all uncertainities...its just 300m now so they can easily buy it with attractive offer...chinese are very smart and usually dont miss any opportunity like this....expect to hear takeover news sooner now...if not u shud consider mmx management is bunch of idiots who cant even sell company for bargain price...If it goes further down its a bargain by considering they are up for sale.....I am thinking of selling other stocks on monday because of us downgrade but not sure abt murchison...mgt said they will regularly update us with the latest developments but they havent put any announcement lately...I reckon if they are smart they will put latest update soon to protect the sp...
MMX Price at posting:
62.0¢ Sentiment: Buy Disclosure: Held
