trading halt, page-36

re: whats up with this trading halt? the one thing in MRC's favour is that Woodsreef Mines closed the asbestos mine in 1979, three years after Hardie sold its Asbestos Mining company to them. I'm not sure what the deal was in 1987 when Mineral Commodities was 'born', whether it was simply a name change or whether there were any corporate liability changes at that time also.

However, it can be said that Mineral Commodities per se, never had any involvement with asbestos mining nor could they have ever overseen any operations there, unlike Hardie, who it is known did have direct dealings with their subsidiary Asbestos Mining.

still, who needs this shite?

just for interest, according to insurance groups, asbestos claims are not expected to peak until around 2010, and it is expected claims will still be rolling in up to 2030.

the asbestos issue is gigantic, and I'm not certain that even Hardie will ultimately be able to outrun their liabilities. This issue has already sent many companies to the wall, and it's really bad news when any company is even threatened by such claims.

I can't see MRC being held liable for asbestos claims - but as I say, even being mentioned in the same breath ain't good for anyone concerned. A pity MRC can't come back with any good news to counter what's now on the table. It will be an interesting time for MRC as the claims and counter claims for liability will surely run their course.

MRC was always a bottom drawer stock for me, now the stock just boarded a submarine. I'm forgetting I've got any and won't make another post until it's clear where MRC will end up - don't want to think how long all this crap will be fed through the fan.