While many shareholders will not like the offer since their...

While many shareholders will not like the offer since their entry price is a lot higher than 51cent (I believe that shareholders may get a capital return of around 25-30cents) but the offer is fair given the condition.

MMX has debts of $42m and this number was increasing day to day. They could not raise capital or refinance the loan. If the loan could have been refinanced for a 2-3 year extension MMX would have taken it.

No chance of meeting their finance obligation for OPR. If December 31st arrives and still there is nothing then WA government may revise OPR to another party so MMX could risk losing OPR for nothing.

To me it was the $42m debt that killed MMX. If there was no debt then at least MMX can still do a capital raising but at least still keep the portion of Jack Hills. MMX would have tried to raise money but the low share price and global sentiment would have made this impossible.

Basically a distressed company. If I was a cashed up potential buyer I would be offering something similar to what Mitsubishi did. Not a good outcome for MMX shareholders but a good strategic play by Mitsubishi.

MMX was between a rock and hard place and Mitsubishi took advantage. Good on them since its business after-all. A buyer will always seek to pay the minimal price if he/she can. For MMX its the term beggars can't be choosers.

Was trading MMX and got in at 29cents (had stop loss at 25cents) for a quick 10% and thought my stop loss may be the one triggered. I have to count my lucky stars as well because if Mitsubishi was took another month to make this deal I would have lost out on this attempted trade. Flogged everything on pre-open and very relieved that its at a profit.

For all the shareholders that are still holding and has an entry price much higher than the current 40cents last traded price ... hope you do get a Chinese counter offer and a bidding war begins. May not recover all your loses but something more is always better