Now Muzza Where does the desire for Chinese and South Korea...

Now Muzza

Where does the desire for Chinese and South Korea wishing to secure IO supply outside of the big three fit into your doom and gloom outlook.

The chinese have long memories and longer term outlook than anyone here. Their investment in the midwest was about escaping the clutches of the big three. They do not want to be held over a barrel like previously occurred.

Posco looking for long term offtake agreement to feed their mills.

53% of MMX held by top 20 who seeem quite settled.

Average size of trade toady was about 4000 shares so price is in the hands of day traders and shorters such as yourself.

Key for MMX is to unshackle itself from port and rail project. IO doesnt go anywhwere, it just waits in the hills until markets right to dig it up.

You also need to factor in the politics of this port. CB wont let it go without a huge fight so I still believe it will get built but as GBG head said as a service provider not a profit centre.