NOT offered a 51% premium for FWR (implied 0.3975/s based on NOT closing price. But this was trumped by CLF offer at $1.00/s in the end. So CLF paid $240M for FWR. CLF also paid $125M for SPQ ($0.19/s x 659M s). So, that was the kind of magnitude of the $$$ that CLF has been paying for the companies in that cluster of RoF. It would be expected that we are talking about 100s of millions of dollars inview of the evaluation (in my previous post) of many FNC properties. I can name another company next door with a deep-pocket parner who also want Chromite and Fe, does Baosteel sounds familiar?) that's just salivating for FNC. Let's start the bidding folks.

There are others, including one little one (KWG) which might want to form a coalition with somebody (FNC), like in the SPQ situation, just to annoy CLF.

If I won a $50M jackpot, I would pay $30M for the whole FNC (50% premium)...and that would be something.

goldhunter