Cash components were $100k for one resource and 1 million for other.
The quarterlies for the period 1/1/2004 to 30/6/2004 show funds been applied to acquiring a number of mining interests but nothing to do with the IO assets. They did not report applying funds through the quarterlies to ASX for any IO purchases.
30 June 2004 quarterly states cash position just over 30k so none of the Feb 2004 raising applied to IO acquisitions according to MMX own documents. Dont see your logic of how that jumped to 419k in September as the supplementary is the first mention of another raising and these shares were allotted after 19/11/2004 according to the supplemenatary.
There is no reference to purchase price going up. It states in prospectus and supllementary that Winterfall payments totalling 500k were paid 28 July 2004. No mention that these were late.
The only part of the cash components that MMX had was for the second 500k as they disclose they were taking over the obligation of Winterfall.
For it do be any different MMX would need to run a defence that both prospectus, supplementary and quarterlies contained incorrect information. These were signed off by directors and auditors.
CHM Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
