re: p/e 42 + Compassion hmmmmm.Ok i will try by saying nothing...

re: p/e 42 + Compassion hmmmmm.
Ok i will try by saying nothing after 2 years of grinding my teeth.
Not easy though.
Most of the IO plays having a good run at the moment.
My old darling MGX in the midwest having a great burst but MGX has nowhere near the resource MMX has.
Not sure what MGX is pulling out of the ground now from memory they were targetting 10mt per annum.
MMX has the potential to be producing 20-30mt per annum down the track.
I have heard the detractors saying by the time they reach that level of production the market for IO maybe be flat again with a flood of mid tier producers increasing supply in the market.
Nevertheless offtake agreements that big steelmakers are looking for will cement MMX at some point as the number 4 producer behind RIO ,BHP and FMG if all goes to plan.
I think there are too many heavy hitters who want the midwest to get off the ground in a big way as an alternative major producing IO area.
My only worry is we dont get diluted too much as we start to raise capital for the big spending coming over the next few years.