No surprises in the way the money is to be used. They have already announced the uses.
The 150mill from mitsubishi will be used to retire debt. So mmx will be debt free as interest rates rise.
The 113 mill from cap raising will be used to diversify into other minerals outside the iron ore/steel industry. Good idea as all eggs not in 1 basket. Media speculation is coal or precious metals. mmx already have other tenements that have copper etc. see previous asx releases.
MMX Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
