Firstly MMX owns 10% of Cashmere. Cashmere will need about $140m for the next phase of development. MMX has over $20m in cash. Cashmere has indicated they have explored debt funding for the next phase. i cannot believe that MMX directors/Sir Ron have not been talking to Cashmere. What's more Posco may be an interested party to Cashmere.
All in all the question will be what is the board going to do!
Time is running out for Cashmere, tehy need to get their ducks in a row for the next stage. MMX needs to decide very quickly if its going to be part of Cashmere or sell out.
For me selling out of a potential IPO and valuing the shares at $0 is a joke!
MMX Price at posting:
4.0¢ Sentiment: Hold Disclosure: Held
