one star for murchinson, page-71

I dont think the CHM issue is having much affect on MMX share price at all. MMX has been predominantly correlated with the global outlook for commodities and MMX's progress on drilling and Oakajee...it has been that way for some time.

The recent weakness is mainly the problem with China nabbing RIO's iron ore executives.

MMX went up when the Chinalco deal failed as everyone speculated that instead China would turn to 2nd tier players such as FMG and MMX. Now MMX is down again as China shows they have a few other strategies in mind.

GBG and other smaller iron players are all down...its just that MMX is down more because they have not locked in their financing and may be relying significantly on China to finance Oakajee.

But the long-term game hasn't changed. China needs ALOT of ore over the next decade and Australia's is the cheapest ore of good quality. So Oakajee will get financed.

And on the CHM case...I am very comfortable with the situation. MMX management have basically always stated that the CHM case is flimsy. They were careful to never make such strong statements about the Koh and Evans case. The Koh and Evans case settled for a relatively small amount so I would expect the CHM case outcome to be at least as good if not better given MMX's much stronger statements.