MMX will never develop JHEP IMO. I don't know why people on the...

MMX will never develop JHEP IMO. I don't know why people on the forum keep dwelling on MMX's inability to fund this and fund that.

They will sit on JHEP until either Sino and/or Posco and/or even a combo of Mits-Sino-Posco or even Ansteel to buy up it's 50% of JHEP.

Without JHEP, Oakajee cannot happen. The new Oakajee arrangement is being worked on behind the scenes. In Jan, (after OPR exclisivity expires), I reckon George Jones, Barnett, Mits, the Chinese and possibly Posco will toast champagne in Perth over an arrangement that should have been from day 1.

So long as MMX can sit on JHEP and self preserve, something will give. From Ansteel's perspective, Oakajee can wait NO MORE ! Sino Steel likewise, it's just figuring out what's the price MMX would accept. It can't do a low-ball bid for Mitsubishi and Posco will snap up the other half and Sino's desire for JHEP (it wanted it so bad back in 2007) can never be fulfilled.

Outcome most likely is SinoSteel will fork out $1B + to buy 50% of JHEP and MMX will distribute the proceeds to shareholders and the company dissolves.

FIRB will never come into the equation as the JHEP transaction is at the mine level.

Good !