well, emusan's rant aside (which i fully agree with, so sad - except for the bit about sitting in a garage, i'm sitting in a cosy office with free coffe, soft drinks, wine and beer), my 2012 crystal ball says:
1) mitsubishi should just about survive without jack hills since they are a japanese multinational and should do alright; 2) crosslands JV will be terminated when Premier Barnett takes the port and rail off them in 2 weeks time; 3) Premier Barnett will attempt to find other interested parties, but with the state of the global economy the $10Bn required to build it takers will not be forthcoming. He realises he'll win more votes with the new 60,000 seat sports stadium and build that instead. Despite being a white elephant because people will no longer be able to get off their couches in 2018 it will atleast look nice; 4) Leaving my mates at MMX. Mitsubishi will not pay them for the 50% because the deal will fall through - there are so many conditions that are outside both MMX and mitsubishi's control, like CHM, WA state government, crap orebody, no infrastructure partners or customers. Strapped for cash, they will be unable to pay PCF's interest or capital. PCF gets all MMX's current and future assets, and then its fire-sale, debt-recovery mode, with receivership before march 2012.
that's my bet.
MMX Price at posting:
37.5¢ Sentiment: None Disclosure: Not Held
