Ironically I was just going to post this thought.

What is stopping someone like Xstrata from purchasing shares of FWR and then tendering them to NOT. A major of that size could also draw on other investors to accumulate tranches of under 10% anonymously. I would think this is petty cash kind of money at this point and I don't believe they have to announce anything until 10%. Comments?

Now I know, oiramoric you see them as only interested in FWR. Myself, I would see them there as part of a larger and more consolidated picture - sans Cliffs if you know what I mean....

If true and they are involved then the end game may come sooner than I thought. I believe this would be uncharacteristic of a major to be involved at such an early stage but you never know. I would view this as good for Xstrata and bad for shareholders. So much more to be discovered and uncovered. Could be a dozen Eagle's Nests if we had all the time and money in the world to uncover it all.

Of course - there could just be only what we have seen so far and the rest is useless rock. Uh...ya.

Brattymack