infrastucture deals and wheels, page-9

I think the share price is simply down due to uncertainty...the market just hates uncertainty, especially at the moment.

There are 3 main points:
- resource upgrades and eventual size of resource
- CHM case
- infrastructure

I am not worried about the first 2 points at all....in fact I'm not worried about the 3rd point either....it will be great if MMX wins the bid, but even if they don't the market will be able to move on and focus on the actual construction of the infra and the great prospects this will bring for MMX and other mid-west miners.

When construction begins, Mitsu will also have to make the MMX completion payment which will ram home just how undervalued MMX is.

I reallly do think it is uncertainty underming the share price...take Merrill Lynch as an example. They released 2 MMX reports within the space of a few months. But since then they have released nothing, despite MMX continuing to achieve milestones....they have not retracted their earlier report....they have simply said nothing despite huge news occurring which has been all over the press.

ML will probably not release another broker report until some of the uncertainty is resolved. I expect their next price target will be a long way above previous target, but given the wide range of possible values for MMX (all of which are way above current market price) there is no need for ML to update now.