Will be interesting to see if they push ahead for more shares or stay where they are.
If they stay then looks like it was just to get back to where they were while times are a cheap.
If they increase then i smell smoke.
I can't see the increase having much benefit other than pure investment purposes.
Surely offtake agreements would be no problem for them. They already are possibly aer preferred customer. Especially now where some mills would pay just to have a customer.
Maybe they think Rocklea will be worthwhile.
Maybe they see CHM going away.
Maybe they just had a spare $8million to blow. Notice they didn't exceed 80c on there purchases. (Average per day anyway).
Maybe they want to replace the board. YEAH!
Maybe Trevor could get a loan from POSCO & Buy his shares back.
Only time will tell.
MMX Price at posting:
64.0¢ Sentiment: None Disclosure: Held
