08/07/2011 09:01:00
Murchison Metals Ltd's (ASX:MMX) newly appointed chief Greg Martin says that selling parts of the business will not fix the funding problems the miner is facing and that a corporate transaction may be the only solution. That’s according to a report by Business Spectator.
The sale of the miner’s flagship Jack Hills iron ore mine has been considered, but the CEO has told the online finance news site that given the size of the funding gap, a simple asset transaction will not be enough.
In the half year ended on 31 December 2010, Murchison Metals posted a net profit of $3.3 million.