Just a thought for discussion here. Temex has a huge land position contiguous to NOT, mostly JV'd with MacDonald, now active. TME's fd market cap is under 10% of NOT. Consider a share exchange merger where TME holders have 10% of Amalgco and NOT 90%. It would prevent CLF from cheaply increasing its critical mass and influence by taking out TME or MacDonald. It seems to me that the bigger package that CLF is able to control, directly or indirectly, the less attractive the area is to a second major in the short term while NOT builds its resource.