Rago & Lucky, you both made sensible posts.

I concur with Cliffs ability to obtain financing. As long as they limit themselves to aquiring one company at a time, if I were a prospective financier I would be most happy to foot a loan. Any investment that they make in the Ring, even the size of Noront is fairly small in relation to Cliffs size, so any financing of a take over is fairly safe and therefore doable.