MMX 0.00% 4.7¢ murchison metals ltd

mmx is in trouble, page-73

  1. 727 Posts.
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    Attention...Novel ahead..
    so look away now if not interested So here we are......3 & 1/2 weeks in.....only a couple of days to go, plus closing statements...and what have we got...
    1/ $153,000 of CHM's money put toward purchase of tenements Arguably as an undocumented loan (depend who's side you are on, but still an arguement)...
    2/ potentailly some chm shares issued at no cost to as yet persons unknown who then sold them and put the money into NICu possible ammount $300,000 (was this naughty, was it a payment to persons unknown for serives, repayment of debts??..(Arguable depending on whose side you are on)But I dont beleive proven
    3/ these are the only moneys of CHM"S that they allege went into the actual purchase...
    4/ Weboz bought leases that chm wanted and then onsold them to CHM for an on paper profit of $1.5 mill..
    allegedly by collusion of weboz insiders and chm insiders thus causing a loss for CHM..
    But there is no documentation of any agreement to do this..no recorded conversations and no witness's to evidence that this was a formulated plan, simply an opportunistic coy got in and bought something from under the nose of someone else and then sold it for a killing..happens every single day...but naughty if someone inside involved BUT prove it..I dont think so... and even then..the funds didnt go to purchase of tenements so not part of CT..
    So we have possibly 450K going into purchase Jack hills
    Purchase cost between $11 and 14 mill depending who you believe, and another $50 mill of mmx money spent to get value to $800 mill approx...
    Case for CHM never looked strong...MMX believe case going as expected....Nothing much changed with a couple of days to go....MMX defending which is all they have to do...CHM attcking and have to proove..no knockout blows...no heavy punches landed....Odds on mmx losing big and CHm winning big......market telling us.....
 
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