Thanks so much, Inca, for the insight. This removes the veil for me with respect to Xstrata. Info like this is why I monitor this forum. Some would have it we should come to the forum after doing our DD/reading, but I simply am unable to do this and must compromise.

What you say makes sense to me. I have felt all along that NOT was a longer range play. Unfortunately, the longer the period to maturity, the more chance for internal and external challenges. This risk is why we expect to be well-paid for our patience. My personal view is that in the long long range, there is no better investment bet than commodities, especially the non-renewable kind.

As far as being humble goes, I think we all could use a dose of humility to good effect.

Best wishes to all NOT longs,

O.F.