Sino's letter today confirming its takeover offer was a finalized fixed bid of $6.38/share for MIS listed a number of reason it believe why MMX's proposed merger with MIS was unlikely to succeed. Additionally, Sino cited 'the inherent uncertainity in the value of Murchson shares (and consequently on the Murchsion proposal)until the claim by Chameleon Mining against Murchison is resolved.'
Best MMX gets this matter before the court pronto and bludgeon this parasite (Australian Paralysis Tick) with the full weight and force of the credible evidence provided by Grimaldi, Barnes and Roberts.
For a company that was touting it would be the bigest player in the mid-West sweeping all before it seems to be keen on scurrying away from the sceen. Me thinks MMX is heading for the lifeboats and is hoping to be picked up by the SS MIS.
CHM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
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