What happened to MMX

gumpcai

Guess this what happened to MMX. Boss will meet OPR boss this Saturday on AFL final. Hopefully will find out and update..

Source: http://www.theaustralian.com.au/ ... rg9df-1225930027794

MURCHISON Metals today reiterated that Mitsubishi remained part of the Oakajee joint venture after its shares plummeted 12 per cent.
Reports that Mitsubishi would walk away from the 50-50 project were unfounded, Murchison said today, and the project will begin exporting iron ore in 2014.
The junior miner, which hopes to export iron ore from its Jack Hills project through the Oakajee port, said Mitsubishi subsidiary Mitsubishi Development had already spent $280 million on the projects and was still expected to make a residual payment for its 50 per cent interest in 2011.
“All inquiries into the matter by Murchison have found no substance to the suggestion that Mitsubishi is intending to withdraw or dilute its involvement in the infrastructure and mining joint ventures,” Murchison said in a release to the Australian Securities Exchange.
Murchison also said it had not seen evidence of a change of support for the project by Colin Barnett, the Premier of Western Australia.
Bankable feasibility study schedules will be provided to the market in October, Murchison said.
Murchison put its stock into a trading halt today after its shares lost as much as 15 per cent, which prompted a “please explain” letter from the ASX, and today's statement in reply.
Late this afternoon, shares in Murchison had recovered some lost ground but were still down 9 per cent, losing 17 cents to $1.65, off a low of $1.51.