Le Penseur

Good to hear from you.

- Ulterior motive: As you have indicated, CLF actions could be part of the current management's strategy to extract as much as possible for the eventual sale of its holdings in the RoF. If not Anaconda will do that with its new slate of CEO and board members. Anaconda is not in the business of spending extra money on any new projects, especially in a far away place called Northern Ontario. Casablanca just want to chop up the old CLF car and sell bits and pieces for cash.

- "Greed is good", unless greed is not executed with bussiness savvy,... as in the Consodidated Thompson fiasco (Recap: CLF bought CT for some $5B when seaborne iron ore was flying high, only to be written down by $1B, 3 years later. Note that the current market cap for the entire CLF is only ~$3B. Now CLF, spearheaded by a fearless senior VP, still wants to develop BT for ~$3.2B? (where the dough?)

(Gordon Gekko/Michael Douglas "greed is good" speech in video link below,...a must watch)

Also, too much greed along with a grain silo-sized ego would lead to disastrous results (case in point, trying to choke KWG to dead and leave it twisting in the wind). If they carried out their business plan for developing the RoF, starting with BD, in a spirit of cooperation/ sharing (30% of BD for KWG, since 70% of the loot is just plenty, in exchange for the use of the choo choo, and the gas-powered smelter technology) then they would probably have shovel in the "esker ribbon" with some matching funds from the governments (at least the 3P money).

Why went through all the troubles dragging its JV partner though the judicial system, keeping in mind that all CLF King's men in the mohogany suite were supposed to plot the course for a winning solution for shareholders. Wasting money on lawyers by demanding an easement over KWG claims and now an appeal following a loss of the case reveal an attitude of a big bull(y) elephant in a china shop (no no, not Baosteel shop in the corner of NOT camp). Not sure if there is a chance for a "kiss and make-up" ending between CLF and KWG, but regardless, many years have been wasted. So much for business acumen!

UTube Gekko's speech:

https://www.youtube.com/watch?v=PF_iorX_MAw

Enough ranting for a Sunday morning.

goldhunter