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Additional Information

Market:	ASX
Sector:	General Mining
EPIC:	MMX
Latest Price:	0.43 (-1.15% )
52-week High:	1.56
52-week Low:	0.24
Market Cap:	188.06M

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Murchison Metals Full Murchison Metals profile here

Murchison Metals (ASX: MMX), a member of the Australian Securities Exchange S&P/ASX 200 Index, is establishing world-class iron ore mining and infrastructure businesses in Western Australia’s emerging mid-west iron ore province.

Murchison is a 50% shareholder in Crosslands Resources Ltd, the owner of the operating Jack Hills iron ore project, and also has a 50% interest in Oakajee Port & Rail, a dedicated infrastructure provider which is developing a major deepwater iron ore port at Oakajee and an associated heavy haulage rail network. The remaining 50% of Crosslands and OPR is held by Japan’s Mitsubishi Development.

Murchison Metals provides Chameleon litigation update

Friday, February 06, 2009 by Proactive Investors

Murchison Metals (ASX:MMX) has advised that a directions hearing in the proceedings commenced by Chameleon Mining NL (“Chameleon”) against Murchison, Crosslands Resources Ltd and other parties, was held in the Federal Court on 5 February 2009.

At the directions hearing Chameleon sought various orders including that it be permitted to file expert evidence. The effect of the orders sought, if granted, would have been that the provisional trial date of 30 March 2009 would have been vacated and the hearing delayed until mid-2009. In its quarterly report dated 30 January 2009 Chameleon stated that it “maintains its desire to have its claims against Murchison and others determined as expediently as possible”.

Murchison is pleased to advise that Justice Jacobsen refused Chameleon’s application and the hearing
remains set to commence on 30 March 2009.

Murchison notes that in an affidavit filed in support of the application, Chameleon’s solicitor states that, in her belief, if Chameleon is not permitted to adduce the expert evidence which was the basis for the application “it is likely to encounter significant difficulties in proving its case against the Respondents”.

At the hearing the Judge also ordered Chameleon to pay Murchison and Crosslands the third tranche of security for costs in the sum of $225,000 within 14 days. Orders were also made for Chameleon to provide security for costs for the other Respondents.

The next directions hearing is 12 March 2009.

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