day of reckoning, page-36

$8m in shares? I am pretty sure that the total consideration paid for the Jack Hill tenemants was $1.3m. Chameleon contribution somewhere between $300,000 and $450,000 in both cash and stock. I think we are looking at a minimum CHM interest of circa 15% (accounting for capex contributed by MMX and Mitsuibishi). 15% of what is the big question?? Is CHM succeeds then does the Crosslands JV between MMX and Mitsuibishi fall apart? Does Oakajee Port and Rail go ahead? Does the the Jack Hills bank feasability study complete? The feasability study will certainly make the value of Jack Hills easier to quantify and its due at the end of the year. At the end of the day we all know there is a bucket load of iron ore out there, circa 3.3bn tonnes of inferred resource. Getting it to market is the key. At current prices MMX reflects the risks of all the rumours that the JV is falling apart and that OPR will not proceed. Any positive clarity on those issues and MMX is significantly undervalued and that is great news for CHM. Throw in Cape Lambert with $130m in cash on their balance sheet and its a melting pot. Lets see what Jacobson says before we contemplate these questions. In my opinion, today's meeting means Jacobson is finalising his judgment. Next week is my guess. The parties will be given 2 days notice so plenty of time to feel the anticipation.