Just going through the financials it would seem to make sense...

Just going through the financials it would seem to make sense that MMX would have to do a capital raising (at a discount in this market) in the near future.

At the moment they have a relatively small debt (then again debt is debt) and possibly say a $50m capital raising will knock off the debt and at least allow the company to survive for like 2 years (management fees and salary have to take a cut as well ... $4.3m for a small cap is a lot).

There would be a massive dilution but it's better than living on a knife edge. At the moment MMX has 437m share on issue. If a raising for $50m is done at say 20cents then that is an extra 250m shares making it 687m diluted. Does not sound good but at least it can continue for the next 2 years and put all existing operations on maintenance.

If MMX cannot refinance their debt what other choices would they have. The only other choice is to give a powerful Chinese group a placement at a premium (say 30cents) and then work out something in regards to Jack Hills and OPR.

What are others opinion on this?