You have your histoy correct K. Both Teck and Falconbridge got into the act and made their own offers for Voisey's.

Friedland was smart enough to play the situation to the hilt.

My point is that the majors are all concerned about getting into bidding wars in the future.

Can it be avoided entirely.....no. However they do not want to be the first to play their hand just to be trumped. The first move gives others something to shoot at.

But my main point is that it is way to early in the game for Vale, Xstrata. BHP Billiton, Rio Tinto etc to get into the act.

I will not be surprised to see that one day Vale, the largest Iron Ore prodcer in the world, to simply buy Cliffs. That will give Vale even more Iron and also the Chromite. Then Vale could buy Noront with pocket change.

IMHO none of this will happen until there is more consolidation in the area, infrastructure is at least planned, gov't is on board and more exploration is done.

That being said it could happen tomorrow.

Respectfully,

SN