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MMX - Murchison Metals

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Anyone have any info on the court case wrangle between murchison and chameleon Mining. I beleive the first week of a 4 week court hearing has just completed. Any info would be appreciated. am a holder of MMX.
 
nq6 said:
Anyone have any info on the court case wrangle between murchison and chameleon Mining. I beleive the first week of a 4 week court hearing has just completed. Any info would be appreciated. am a holder of MMX.
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The court case has ended. Closing submissions to be made early February next year then the judge will hand down a decision. No mention when that will be but I think it will no be long after closing submissions are made.

So far the MMX is "pleased" with how the court case had gone. CHM has asked shareholders to ring if they have any further questions.

As far as the market is concern MMX is up and CHM is down. Draw your own conclusions but my preference is a satisfactory outcome for MMX.
 
If CHM wins the court case, what happens to MMX? Will it majorly affect the share price?

While I do hope mmx win the court case, there will probably be an appeal and it will drag on into next year.
 
thierry said:
If CHM wins the court case, what happens to MMX? Will it majorly affect the share price?

While I do hope mmx win the court case, there will probably be an appeal and it will drag on into next year.
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It is not just a matter of winning or losing, it is more about how much the judge will award. Opinion is rather divided at the moment. If MMX have to pay only a small amount say less than $10 million then it should not affect the shareprice that much. In fact it may go up if the whole matter can be settled for less than a king's ransom.

MMX just want to get this CHM albertross off it's neck and get on with developing Jack Hill & the OPR project.
 
2 days of 10 and 5% rises.. there must be something i don't know about..
interestingly EQN is also having the same share price movements.
 
MMX and TRH from 34 cents to 46 cents options up to 18 cents all on one announcement Huge gains , what a day.
 
I cannot see any relationship between MMX and TRH & EQN. Am I missing something? Apparently MMX is having some sort of presentation this week in WA, there is speculation there is some kind of favourable announcement.
 
MMX up again after loosing a bit of ground yesterday. I still don't know what the catalyst is for the share price rise, so if anyone knows, please share
 
MMX doesn't seem to be getting much attention here lately, but perhaps this rather attractive chart will generate a little bit of interest.
 

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All MMX holders are waiting patiently for the judge to deliver his verdict. If justice prevail and CHM fails in it's "extortion" bid then it will be full steam ahead for MMX and Oakajee. Litigation is full of uncertainities and I think it is holding MMX back right now.
 
ann out this morning re chameleon (CHM) and cape lambert (CFE) entering strategic alliance, incl $6.5M credit facility

chameleon chairman in ann,

...

"The investment is an endorsement of chameleon's decision to take action in the federal court over the jack hills iron ore assets."

...
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fed court decision still pending
 
CHM wants to get into mining? Must be the joke of the century. All CHM had ever done is walk in and out of court litigating everything and everyone. How they ever hope to get actively involved in Jack Hills is beyond comprehension. 6.5m won't even get them a look in. Benny go and kid someone else.
 
I don't think the rumours are entirely false. Many people have asked why a Japanese company would want to build a rail and port facility for Chinese & Australian owned mines and Chinese & Korean clients.

Rail & Port facilities have long lead times and very capital intensive with a long payback period. I suspect the bankable feasibility study is not too crash hot and Mitsuibishi is having second thoughts.

However, the Chinese may want to take the contract over, they are less focused on short term profits and more interested in longer term goals plus they have billions invested in the mid-west.

I hold.
 
Judgement day is near. Firstly we should hear the result of the receivers appeal against CHM by tomorrow. If the litigation funder wins the appeal then a out of court settlement is most likely.

Justice Jacobson has asked for some further clarification on the case between CHM & MMX, learnt opinion is he is close to delivering a verdict.

My personnal opinion is MMX is looking good. I ask myself why would CHM want to change lawyers if they are so damn sure of winning? You don't want to throw out a top winning team of lawyers would you?

I have my fingers crossed and I am sure any favourable news for MMX will light a rocket under it's sp.
 
Well no SP rocket in the right direction anyway. I think people were initially spooked by the fact that mitsubishi might be getting cold feet and now with an announceent of some significant delays we should hold tight as this ride could be an interesting one. The signicance of the Oakajee project is enourmous but it also requires enourmous amounts of interested parties to part with money
 
kingkev said:
Well no SP rocket in the right direction anyway. I think people were initially spooked by the fact that mitsubishi might be getting cold feet and now with an announceent of some significant delays we should hold tight as this ride could be an interesting one. The signicance of the Oakajee project is enourmous but it also requires enourmous amounts of interested parties to part with money
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SP is taking a beating today. Is it a disaster or is it a golden opportunity to buy. Oakajee is still going to go ahead, too much money had already been invested in it.
 
I also believe that this project will go ahead albeit later than sooner. When to get in will be the question. Mitsubishi have a large interest and way too much to lose by pulling out.

IMHO the time to possibly consider getting in again will be when the SP goes under a dollar if it is allowed to go down that much
 
The request for the trading halt said

"......pending an announcement concerning the Govt's response to the company's request for an extension of the State Development Agreement for the Oakajee Port and Rail Infrastructure Project."

That doesn't sound like an imminent capital raising, IMO.
 

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