Anybody else wondering????
posted on
Feb 17, 2012 12:25PM
Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%
The information re:quality of ore and the Update article, combined with the comments about Cliffs being a takeover target, got me to wondering. Cliffs just seems to have been in a holding pattern for quite some time with ROF. They've done some meetings and submitted some not so specific plans which doesn't even price in(until now) what is arguably, seeing as the terrain of the ROF, the most important ingredient which is transportation. They continue to deflect BD being the most economical option and stay with the plan to mine BT first with the 2015 timeline which appears to be not reasonable if you read the various articles. Now perhaps not, or reluctant to, releasing the bulk sample results, I wonder if they are indeed still committed. Wondered from the outset what experience does Cliffs have in chromite mining? Then they bought out Consolidated Thompson Iron Mines and recently, as has been noted, ran into problems in a number of their other projects. They seem to be more noted for iron ore pellets and met coal. Beginning to wonder if they are over their heads with the ROF and may be looking to sell their chromite assets on the basis of the bulk sample results for BD. Can't help but wonder when some one such as Baosteel, which has already shown interest in the area via Noront, will show it's hand especially since Harper's latest visit to China. The clock is ticking and the forced JV with KWG is just around the corner. Doesn't seem to make sense to allow this JV to happen by either Cliffs or a potential suitor??? JMHO