Just did some research on Cashmere Iron Ltd. I have now minin...

Just did some research on Cashmere Iron Ltd. I have now minin exeprience so I really didnt understand what the value of the deposits were really worth but it was interesting to read that;

1. They have spent well over $1m to IPO in the 2012 year and are eager to IPO so that they can develop the deposit
2. Directors provided consulting services through the year were satsified with recieving shares/options for their services at a price of $0.70
3. Based on MMX stating they had 3.2% interest in Cashmere this converts roughly to 10m shares
If we extend the 10m shares at the $0.70 the value of MMX's investment in Cashmere is closer to $7m not the $2m that is on the balance sheet.

I suspect that some of the interested parties in Cashmere are finding it cheaper to buy MMX at $0.039 to get the stake in Cashmere almost free!

Effectively if Cashmere go's an IPO which it has committed to the value of Cashmere in MMX is over $0.0155/share.

I am a little dissapointed that the board has kept quiet on this one. they have only said they are confident that they will recover the $2m!

Im holding onto my MMX for the ride.