It's an impressive wad of paper to go through in detail. However, a very quick scan indicates that KWG is leaning toward BH with an underground operation (would save some money if they can share the same shaft with NOT Ni mine).

Question: Let's assume that CLF let the chrome assets go to KWG at some reasonable price or for some reasonable NSR then which deposit KWG would pick as a star candidate for immediate development? Presumably, BD and BT, BL (and BC with a shallow almost vertical deposit) could be developed as underground operations like BH, since it would be easier to justify an "out of sight out of mind" situation compared to a big hole in the swamp.

Speculation: May be some deep pocket, via KWG, just wants to monopolize the chromite assets and it does not really matter which one is developed first. Note: We should not forget that NOT has chromite too at BB which is not too far from BH. Can someone play the role of a matchmaker to get this pair (KWG and NOT) to the altar? But somehow we need to deal with Baosteel. How about Baosteel get together with Glencore as escorts, one for each side?

goldhunter