mis announcement is huge news for mmx

I had not been paying attention to MIS announcements lately but I must admit I missed an absolute doozy from MIS on Sep 5th.

I suggest all MMX holders read the Jack Hills update from MIS.

Its very confidence inspiring for the following reasons:

1. MIS is drilling the heck out of Jack Hills.

2. They have found a decent amount of iron ore at Jack Hills so far and results suggest they will add more. This adds to the viability of Jack Hills and Oakajee project.

3. IMPORTANT - MIS have deliberately drilled some deeper holes looking for beneficiation ore (BFO). This shows that MIS/Sino is confident that Jack Hills BFO will be viable.

4. In the announcement they actually state that "lab test work demonstrated that high quality magnetic sinter feed could be upgraded to a blast furnace grade magnetite product" [paraphrased].

5. Sino wants MMX. There is no argument on this. It doesn't say so in the announcement, but if you read between the lines there is no doubt.

Jack Hills Stage 2 will go ahead and it will be at the lower end of cost curve if new iron ore mines.

There is no way the government will deny Sino.

And Sino definitely wants MMX.

As for the global economy...who gives a rats? Jack Hills Stage 2 is not going to be producing for a couple of years so the global economy is irrelevent. China will still be there when the economy picks up again.