cashmere, page-4

Of the 1.3m shares traded yesterday I sold 850k. $0.049 now is better for me than sitting on MMX for a few months while Sir Ron works out the next move.

Sir Ron will not buy MMX for more than the NTA and I doubt that Cashmere will be part of that equation so $0.049 is a good price when after the buy back the NTA was $0.048.

Now having said that Sir Ron is alos in the process of mopping up the unmarketable parcels, however I dont believe after the buy back that there will be a great deal of value created by mopping up the unmarketable parcels. at best i estimate possible NTA may move up to $0.051 but even thats a stretch.

The next move will be the board will consider strategic options whcih may take a few weeks, then they will decide to delist MMX because of costs.

Once delisted shareholders will find it more difficult to exit and the takeovers provisions and reporting requirements arent as stringent so Sir Ron has a bit of an easy ride.

I still believe MMX can get to $0.052 but I suspect that will not be with huge volumes and I doubt MVT will over pay for MMX they would be silly to do so!