re: Ann: MXR: First Non-Core Asset Sale - Can...
Flaming
Have a look at the mxr thread, there is plenty of info on there about canegrass.
Basically
It is a stranded deposit, east of Mount Magnet, no rail for many hundreds of klm's
The ore is very low quality, would cost a lot to process.
The ore body is very deep.
That is why it was cheap, you get what you pay for.
Of the 37 prospective buyers that looked at it, only one (fms) wanted it, does that tell you anything??
Fms already owned a percentage of it, fms has been propping mxr up for a while now. They exercised their mxroa's when they were out of the money. What next?? Will fms loan mxr some cash??
Ann: MXR: First Non-Core Asset Sale - Canegrass P, page-18
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