Use your head if you have a brain. You are just being silly....

Use your head if you have a brain. You are just being silly. Really, can't be bothered responding to you anymore.

Just because the local real estate agents says your house if worth $50K (even though you know it's intrinsic worth is $500K), you don't have sell unless you are forced to do so.

Share price means nothing as far as MMX goes. Sentiments and irrational fears (+ relentless shorting is why sp is where it is). In some respect, it's not unlike some stocks I bought in the middle of the GFC (give you just a few - CBH, SPH, IOH and BLY)...beaten to pulp (90-95% down from peak) given the uncertainty only to rise again when the clouds lifted. Each a very substantial multi-bagger. CBH and SPH were cheques in the mail. I am not saying MMX will be a star performer. Even at $1 payout I am happy. At $1.3 -$1.5, I am laughing.

Again, look at the charts. It traded at 80 cents weeks ago before Barnett even went to China and talked about the Chinese are keen to participate in a revised Oakajee (one that MMX plays no part - which we knew all along - it's what Greg told us pretty much since he replaced PK on day 1). The euro problem, prospect of global recession and china slowdown are the main catalyst for the huge plunge.

Now lets focus on the fundamentals rather than the sentiments. BTW, why keep talking sheet about debt funding and so on. MMX will be wound up. It will be delisted IMO after JHEP is flogged off. It will pocket 50% of the $78M from the WA govenrnment for the OPR IP.

Half of JHEP (conservatively valued at $700M). Remember Sino bought a mine with half the mine life, lower grade and much small ore body for $1.5B (at a time when IO prices was lower).

Even at $600M (current maket cap $129M), that's 4.65 X of what it's current share price is. WPG sold to OST a much smaller resource to OneSteel for $350M.

Now some moron may ask, why would the Chinese pay this multiples to MMX.

Answer, because they need the ore and MMX happens to own it. If MMX can't fund the project, Ansteel and Sinosteel are stuck and their investments goes to the sewer. Simple. They are all joined at the hip.

The other factor is Mitsubishi owns the other half of JHEP and it knows the value a per the BFS (once Oakajee is derisked as per the new chinese - japanese JV arrangement).

Posco also knows the long term (multi-decades) value of JHEP and may also snap it up for itself.

If the chinese don't buy (they want it real bad), then Mits and Posco will be happy to oblige.