MMX
Stock Code
Stock Exchange
Murchison Metals (MMX) is a mineral exploration and mining Company with a core focus on iron ore exploration in Western Australia. The Company supplies premium quality iron ore to the global markets. Murchison Metals is a part of the S&P/ASX 200 Index and it listed on the Australian Stock Exchange on 1st April, 2005. MMX has a 50% shareholding in Crosslands Resources Ltd, the owner of the Jack Hills iron ore project, with the rest 50% of Crosslands owned by Mitsubishi Development Pty Ltd. Mitsubishi is a controlled entity of Japan's largest general trading company Mitsubishi Corporation.
The holidays are over and companies are back in business to face the new year for the rollercoaster ride of share prices. The lists below are a record of the best and worst traded stocks in the ASX100, ASX200 and All Ordinaries in the Australian Securities Exchange in the first week of 2012, January 2-6, 2012.
Best Performing Trade Stocks ASX100 (XTO)
As the year 2011 closed, share prices continued to fluctuate as companies and investors continue to trade stocks. This is a record of the best and worst traded stocks in the indices ASX100, ASX200 and All Ordinaries in the Australian Securities Exchange in the last week of 2011, December 26 to 30, 2011.
Best Performing Trade Stocks ASX100 (XTO)
Stocks went up and down before Christmas day arrived and this record shows to prove it. Below are list of the best and the worst traded stocks in ASX100, ASX200 and All Ordinaries of the Australian Stock Exchange in the 51st week of 2011, December 19 to 23, 2011.
Best Performing Trade Stocks ASX100 (XTO)
Murchison Metals (MMX) can finally sell its stake on the Oakajee Port and rail project after the Foreign Investment Review Board (FIRB) approved the $325 million deal between the miner and the Japanese company Mitsubishi.
Murchison Metals (MMX) are going to have a merry Christmas after all as shares rose by 8.97 per cent to 42.5 cents this morning after settling its legal battle with rival Chameleon Mining (CHM).
No floats are scheduled tomorrow Thursday, November 24, 2011. Meanwhile, an ex-dividend, two Extraordinary General Meeting and a lot of Annual General Meetings are scheduled in the sharemarket world.
Ex-Dividends
Newly appointed CEO Greg Martin said that selling assets of Murchison Metals (MMX) is not enough to fix its funding problems.The mining company admitted that it was unable to fund its share of costs in a $10 billion development project, and announced it will review its strategies to find feasible solutions. Martin admitted that a corporate transaction may be the only way, stirring takeover talks in the industry.
Murchison Metals (MMX) is struggling to keep its head above water as it admitted to facing grave financial challenges. The junior said it would be unable to bankroll the $5.94 billion Oakajee iron ore port and rail network in Western Australia.
Murchison Metals (MMX) is facing funding challenges for its share in the Oakajee Port and Rail project. One of its customers, Sinosteel, has placed a $2 billion weld project on hold due to ongoing delays in development.
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