MMX murchison metals ltd

Listened to CB, thought he gave a positive fairly unbiased...

  1. hws
    613 Posts.
    Listened to CB, thought he gave a positive fairly unbiased account of the position.
    I think he and other commentators are fairly dismissive of Mitsubishi place in all this. He says China will play hardball, what does he think Mitsu are going to do, just bendover.
    Mitsu have been playing these games for 50 tears, you just have to look at the relative deals put in place to judge the smart outfit:
    The old timers at Mitsu puts up 150million for interest in JH and OPR, don't have to pay anything more until it is a proven concern and then an agreed 50% of calculated value.
    New boys Sino pay 1.5 billion for a small DSO resource, no magnetite proven resource, no infrastructure.
    Ansteel pay a heap load (i dont know the figures) for interest in Gindalbie. They have had a cost blow out of 1.7 billion (funny how Burrell nevers mentions that) on the mine with a limited capacity and now are going to have to fork a lot more get into OPR game, to be able to increase their capacity. Saying that I think they are in a good position.

    Seems to me the smart guys are in Mitsu, they will be playing their own hardball (perhaps slightly more subtle), it can't go ahead with out them ticking all the boxes.
 
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