excerpt from "The west.com.au" in march this year....Times have changed somewhat..ie MMX sp much lower...However interesting that prior to BFS being released and still surrounded by uncertainty..what did the analysts value Mitsubishi's final payment to MMX at for their 50% stake....
• If Mitsubishi Development shares Murchison Metals' belief in the Jack Hills magnetite project in the Mid West, then why doesn't it launch a bid for Murchison?
Under the four-year-old joint venture agreement, Mitsubishi has to pay Murchison a big wad of cash, based on Jack Hills' net present value as determined by the bankable feasibility study and a development go-ahead.
Analysts reckon the Mitsubishi payment may be $1 billion-plus, compared to Murchison's $606 million market value.
Maybe Mitsubishi doesn't believe Jack Hills' BFS will be anywhere near as positive as Murchison is spruiking to investors, which may explain the Japanese group's patience.
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