I dont know how I missed this article (see attached...

I dont know how I missed this article (see attached below)

http://blogs.wsj.com/dealjournalaustralia/2012/02/24/iron-ore-miner-cashmere-gears-up-for-ipo/?mod=google_news_blog

What Cashmere are saying is that they are engaging a broker and going IPO by June 30! they intend to raise a little less than $100m Im geussing the rest will come from debt.

This will now place a value on the 10% ownership that MMX has of Cashmere that the board wrote down to $0 last month.

Now what value MMX, obviously $0.049/share cash backed plus the IPO price of Cashmere!

This could getting very interesting!

Why is the board all quiet? It woudl be an embarresment if they now continue with the buy back! (at least at the indicative price 0f between $0.040 and $0.042)