No mate, that was CHM's summary.
If you read the actually court document - it specifically says why CHM is NOT entitled to 24% of the asset - that being becasue MMX had to fund the development of the asset itself.
From MMX, CHM get about $150,000 escalated - not even half a million.
From the other ex director - they get 10m shares - so about $15m, but that doesnt come from MMX and has no tie to Jack Hills.
How can CHM reasonably expect to have 24% of the current market value of the asset which they havent funded the development or exploration for.
If that was the case,they could wait another 4 years until Jack Hills (Stage 1 and 2) are in production and then just get 25% of the profit for free. No you got to invest something to make a return.
Sorry try buying into a "Real" business if you want a cash flow stream. I think MMX is undervalued, and once this court case is blown over - there lies little uncertainty - ie less risk - ie. lower discount rate - ie higher valuation!!
Disclaimer - The above represents my opinion only and should not be used as a basis to any financial or investment decision. Always exercise your own due diligence first.
No mate, that was CHM's summary.If you read the actually court...
-
- There are more pages in this discussion • 45 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
