I think it is important that the ASX monitors share deals by directors of CHM or their contacts and whether any of them have shorted MMX or MIS. Any buys at the lows followed by withdrawal of the litigation should also be investigated and prosecuted. These CHM guys may be playing this that way - certainly would not be the first time this has been done.
I would think they could also be prosecuted for selling their shares after this action, given that the only value in CHM is their purported right to a slice of MMXs tenements - and if this does not have a solid base and they dispose of their shares at the high this is market manipulation.
As their case is garbage and at least one CHM director has "form" this is certainly possible.
Go MMX with the countersuit - take them to the cleaners and sue them for the lost $500m if this kills the takeover bid - then allow the CHM directors to pay it back at $500/day by shoveling MMXs ore (by hand) onto the back of a haulpack!
Vindictive you say - who, me? YOU BET!
MMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
