I was trying to make the point that it's a very narrow minded view to just interpret the figures from announcements and then foretell mmx's future solely based on those figures.
You seem to suggest that all mmx can hope for is 380mt, and only a third of which is dso. So you get your calculator out and try to tell us what mmx is worth, as if Jack Hills is the only project mmx will ever get involved in.
Let's assume for a moment that all they'll ever see out of the midwest region is 380mt. Get your calculator out and tell me the dollar value, and then tell me what sort of growth opportunities and potential that kind of money can create.
Did BHP become the largest miner in the world because they're still scraping the bottom of what's left in their mines at Broken Hill ??
I believe that mmx management know what they're doing, and if they're seizing growth opportunities, then that's a great thing. They've got the cash (in a climate where cash is a little harder to come by), the iron ore market is pumping, and what might seem like a sideline distraction to you, seems like a sound business decision to me.
MMX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
