Can only hope the new team can pull a rabbit out of the hat for people still in this mess but I doubt there is any value left in this one.
AGO,BCI & MGX must look good to people now not to late to get into BCI some impressive tonnage coming out of that place now the road is all but finished.
Cheers
Hotlegs
BELEAGUERED iron ore miner Murchison Metals has delayed the release of its full-year results by more than three weeks.
Murchison has been through a horror period since admitted in June it didn't have the funds for the stalled $6 billion Oakajee port and rail development in Western Australia.
It was scheduled to announce its results today, towards the end of the earnings season, but delayed the release without explanation. "Murchison Metals advises that it plans to release its financial report for the year ended 30 June, 2011, on Wednesday, 21 September, 2011," the company said after the market closed yesterday.
Murchison is a 50 per cent shareholder in Crosslands Resources, owner of the Jack Hills iron ore project in WA's Mid West.
The other half of Crosslands is held by Mitsubishi Development, a subsidiary of Mitsubishi Corporation, Japan's largest general trading company.
The future of Murchison's Oakajee project was clouded in June when state-owned Chinese group and would-be customer Sinosteel mothballed its $2bn Weld Range iron ore project.
Murchison's shares lost 2.5c, or 3.9 per cent, to 61.5c yesterday, having traded above $1.50 in February and $3.01 in April last year.
Can only hope the new team can pull a rabbit out of the hat for...
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