I have often wondered about Baosteel and what they saw that made them invest in a mosquito infested bog in the middle of nowhere, no nothing except a handful of native people...years from any possibility of development AND with all the attendant problems.

Cliffs managed to invest cheaply and crow about it. In my mind, it was the best thing that has happened to date. It put us on the map. Eyes boggled at the size of the CR numbers. Politically, Cliff had to be dealt with. All of a sudden our politicians woke up, but only politically. They have a tiger by the tail, and the dance between Cliff and Ontario will be of great importance as to how all of that goes down.

The snaffling of FWR and SPQ is hopefully the end of the lowball buyout. At that time, the government was asleep, the world was asleep, and the savvy market played it for all it was worth. Our bod also played it for all it was worth. "A mosquito infested bog in the middle of nowhere" to paraphrase what we were told.

So, are we going to be a lowball buyout?. Are we going to build a mine? Have we more riches ready for announcement? I don't know. But, for my money, we are far richer than what we have been told, and far richer than we think.

vermillion

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