I saw in the Weekend Australian that Sumitomo may be doing a deal to spend $430 mill on a 50% interest in a Qld coal mine,if that is the case then maybe they are looking to tie up some steel making raw materials,hopefully this would help MEP get some sort of deal done on their jv at Mutooroo.
CAP now have a market cap of about $40 mill mainly on the back of their Hawsons project where they are looking for a jv partner,market valuations elude me these days.
MEP Price at posting:
16.5¢ Sentiment: LT Buy Disclosure: Held
