MMX is very fortunate to have one of it's major shareholders as POSCO in this current envioroment. Mr Woo is on the board of MMX as a non-executive director, and he heads the Australian operations of POSCO. I see that a 60k tonne load of IO from Crosslands will be departing from Geraldton this Sunday. I would say the buyer would be POSCO and headed off to Korea thanks to Mr Woo. Would be interesting to know what price MMX sold it for. I agree with Surfie and that POSCO has no interest in t/o MMX. They trade and don't mine. I still believe MMX is in play right now but as always what price?
Consolidation is inevetible in the junior IO sector in WA and as soon as some egos get bruised from the reality of this once in a lifetime financial crisis the quicker it can begin.
MMX Price at posting:
67.0¢ Sentiment: LT Buy Disclosure: Held
