well downrampers not really seem downrampers now...
few headline
opr project cast delay, opr in danger, 6b cost blowout JH cost blowout and not viable
they all news had substance we can tell it from the BFS now
mmx can only sell 50% Jh and if it is well known that it is $3.7 capex the payment u expect only around $1b and mits payment may be less than that...
it still cant fund OPR and need cap raising... they already burnt 30m and end of this quarter another 30m
so 100m facility run out in dec...mits payment is only happening in march 2012 only if Project Go Ahead and its not certain...They mentioned it in BFS
As I mentioned earlier 23% up and 23% down and again 15% up..creates doubt of pump and dump... dont expect infra resolutions anytime son..barnett alreadu indicated they have six months from now and they will wait to terminate the contract...
murchison will get 78m/2 is 39m out of OPR for its 50%(all)divestment...
JH payment from mits now expected around 500m...
if I total up all these amount and look at JH share of 1.9b...murchison need another 1b to fund JH...where do u think they wud go...I am seriously worried even if the projects are viable...cap raising or dilution in way...
murchison long term future is goos after cap raising but we dont know when they put announcement of capp raising and at what price but we are sure that they will have to come with at least 25% discounted price if they do at $1 sp...if they pull the plug before $1, add more discount and additional number of shares issue...
basically lower sp cap raising high discount and more issues...the overall picture is horrible for short term...
MMX Price at posting:
66.0¢ Sentiment: LT Buy Disclosure: Held
