In fact NOT already said it will be first in line at the new CLF door, and Coutt is ready with his smart phone...as indicated in the FP article today. Also not the bargaining position...but will buy it cheap, say max 50% of $500M, and starting at 10% before inching up. Don't be surprised if KWG come in with an offer with a backing from say certain German company or some other deep pockets, such as...

"In the Ring of Fire, junior miner Noront Resources Ltd. wants to buy Cliffs’ Chromite project if it comes available. Noront made the first major discovery in the region and remains one of the key players there.

“If we don’t get a call from the new [Cliffs] management, we’ll be phoning them,” chief executive Alan Coutts said.

He cautioned that Noront would not pay anything close to $500-million, which is roughly what Cliffs has spent in the area. But at the right price, he thinks Noront could buy the assets with the support of its key backers (Resource Capital Funds and China’s Baosteel Group)."

goldhunter