CHM’s big chance to cause problems was in MMX getting funding...

CHM’s big chance to cause problems was in MMX getting funding for the infrastructure tender and submitting the RFP.

That has happened – MMX/OPR has received funding from all the major Australian banks plus some international banks. The tender has been submitted on time – and

Therefore CHM has failed.

Fair enough, you could argue that the prospect of a takeover of MMX might give CHM some leverage.

But firstly, I don’t believe MMX management or shareholders want a takeover in the near future. The full value of the company is still being proved up by drilling etc. so a takeover now would undervalue the company.

Secondly, Sinosteel is not stupid. If they want MMX they will look at the facts/evidence, see that the CHM case is a dud, and then proceed.