The market hates MMX, even its long term share holders hate...

The market hates MMX, even its long term share holders hate MMX.

No one will invest their hard earned dollars on rumours and speculation, but we've all seen what happens even when a relatively small accumulation takes place.

When Posco topped up recently we were up more than 50% in a day and almost hit a dollar.

The same thing happened to AGO, they were near their all time lows when they hit $ 1.50 almost instantly.

The market is ignoring some very significant developments, not just with MMX but the entire midwest region. You've got a state government pushing to invest nearly 700 mil into the region, Yilgarn is chomping at the bit to pour in 2 billion, Ansteel is going ahead with GBG and Shougang with MGX.

All this money is being poured into mine development in the midwest, and hasn't stalled even though the market has had a massive heart attack.

None of this cash can be turned to profit or product unless the infrastructure is sorted out, and I think few will dispute that MMX is in the driver's seat and has the full support of the government.

But all of this means nothing because the share price isn't set by logical reasoning, but what a poor simple punter with all his fears and greed is willing to pay for it.

But IMHO, the market and the punters will get caught out.

Comparing us with our neighbours isn't a fair measure either. I'm not too fussed about where MGX or AGO are at. I'm not in a competition to see if the MMX share price is higher than theirs.

If they were at 10c and we were at 15c I wouldn't be content that we were priced higher than they are.

I really only care about what MMX's potential share price is, and in light of the recent events I think some exciting times are ahead.

But that's just my opinion, and I'm just another poor simple punter with my fears and greed as well.