Re: No evidence that we are shopping?

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stock greed

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Re: No evidence that we are shopping?

in response to

No eveidence that we are shopping?

positive carry

posted on Mar 15, 2010 03:16PM

I hope you are wrong, people have stuck with ROF JVs for a long time, twinsting their panties as FWR rose. I hope these JV's get their triples and quads as well.

What did Cliffs free up 400 mil for?

But you are right, what's the rush? Except for one thing: If Cliffs does plan to buy KWG and SPQ out, for that matter FNC, UC, PRB at anytime in the future, better to do it before one of them hits massive Nickel. It's assumed they all have great chromite, so that's already on the table to bargain for, but if they find a hit, it will make it a higher purchase. So why wait and run that risk?

The other factor, CLF must consider is Noront. What are they going to do about it. Are they content being in ROF for chromite alone, or do they want to have it all, since they are building infrastructure anyway?