"Basically saying each 10% interest in assets they are awarded...

"Basically saying each 10% interest in assets they are awarded worth 25 cents per share."

That is total rubbish.

MMX is much more than Jack Hills, there is their substantial cash of about $250m, their backer (Mitsubishi), their equipment, the staff (hard to come by and can be transferred to Weld range or Pilbara operations), the infrastructure project that they will almost certainly get now Sinosteel/MIS cannot come to agreement just two weeks out from the deadline, and with the MMX/Mits plans complete.

MMX MC about $1.2Billion

Jack hills worth about a third of that ($400m).

10% is worth $40m

CHM has over 1 billion shares and 600m options.

first four lots of 10% would be worth 4c per share until options in the money. Once the options are in the money it is worth 2.5c for each additional 10%.

I cannot see why they would be awarded anything based on the story as I see it though that is for the legal bods to work out. Personally I don't really care as I am out of MMX for the moment until the uncertainty pulling it down has been cleared - most likely coinciding with the demise of CHM.