Yes I agree - NOT's nickel is needed to lessen the payback time on the infrastructure. I believe Hoov brought this up several days ago to give credit where it is due.

And that means that CLF must deal with NOT in some fashion - i.e. make a deal with NOT to help pay for the infrastructure (unlikely IMHO), take NOT over or have a major (probably Vale or Xtrata) who is willing to play ball on the infrastructure take NOT over which would mean CLF would be in the position of actively selling NOT (to Vale or Xtrata or maybe others). This last option is complicated by the fact that CLF themselves are a very likely takeover target for Vale if not others.

And does CLF want to be taken over by Vale? Vale is doing some housecleaning n Sudbury with screams of third world conditions being imposed by the new owners. Maybe CLF does not want to be housecleaned. Management is not immune. Would the U.S. government allow CLF to be taken over?

As others have mentioned NOT could be taken over more cheaply by CLF than if Vale appeared on the scene; so there may be something to the scenario of CLF taking over NOT and then Vale (or another) moving on CLF.

The plot gets thicker and thicker. The bottom line (IMHO) is that NOT's nickel is needed. JMHO.