Hi, Your post suggests a long bumpy road full of dilution for all those NOT shares taken in exchange for FWR. And, a somewhat frustrating retail road, having no idea when those controlling interests would pull the trigger, that is sell to a major. I'd prefer a little bit more liquidity and transparency along the way rather than blind man's bluff with the hedge funds.

I took a quick look at who has financial power as reflected in market caps. Nothing really new here,

Cliffs about 5 billion,

Arcelormittal about 55 billion.

Rosseau , can't locate it , (Some source would be of help)

Cliff's mission seems all about scale and world class, Arc's about everything steel including a full array of stainless and related alloys. CLF and ARC have a significant business relationship.

Why would NOT BoD not be happy to see fwr taken out by CLF or Arc whipping the other majors into a frenzy over the other resources ?