BTW, which of my FWR or NOT posts did you see as a pump ? If you have read all my posts in the context of the events to that time, you might be surprised. I AM pretty enthusiastic about BOTH companies, each for much different reasons, but they still only make up a small % of our portfolios. I posted some data about what I thought were some potential directions for the bidding based on who I believe has the greatest strategic interests. I personally have neve posted anything regarding outcome values, because I do not have a clue on mineral valuation other than what some serious NOT posters have long ago posted here. And I especially have no clue as to what emotion and greed can do to two or more bidders who covet the same prize. But you seem to signal a particular win/lose mentality in your post, which tells me you may not be diverified enough to be objective about what you own. Please consider some drivers that have not been seriously disputed in these forums:

1) Cr is more strategic right now than Ni; all Ni you need forever is pretty much available in the open market and pricing is competitive;

2) It is RARE for a world class strategic resource to go to auction; if this were in the U.S. or China, it would not happen IMO;

3) The potential bidders are REALLY big, including for one the Chinese .

4) If NOT has the best deal, I will own a big pile of NOT more than I own now;

5) A third party major at FWR is a wonderful lever for NOT value going forward; so I like NOT win or lose the fwr bid;

6) A lot of people including funds have high cost NOT and may feel a little desperate that everything goes NOT's way, but the short term rarely works that way and I think long term NOT is good value regardless;

I think you might reconsider your post.