"I see no advantage in letting Baosteel have another 10%at 38 cents a share .or anyone else ."

I would agree with you here and most would. Selling portions of your company for pennies is not the best scenario. However, if indeed these two entities are sitting in for the long haul, and serve to provide protection from a real cheap takeover, then it is the lesser of evils and they could help to see NOT at a higher buck. The Chinese want the resource and will pay for the minerals at a market price and that is where NOT will achieve it's value....as long as it stays in our hands.....or shares.