Luker, thanks for posting the Mick Davis link.

I'd appreciate if you'd all focus on these two major financial institutions backing up Mick Davis ...by the name of Noble Group and TPG Capital.

"After losing out in the Glencore takeover, former Xstrata chief executive Mick Davis is ready to come back to the industry and two major financial institutions are already backing him up.

Trading house Noble Group and American private equity firm TPG Capital said in a statement Monday they will each invest $500 million in X2 Resources, the private mining venture led by Davis.

The companies said X2 Resources aims to become a "mid-tier diversified miner and metals group", whose output would eventually be marketed by Noble, a Glencore's rival.

The firms also said they are discussing with “a further select group of potential investors” for the new venture.

It doesn’t seem a coincidence that the new company’s name is X2, as the venture appears to be a clear effort to replicate Davis’s success at Xstrata."

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I took a look at Noble Group and TPG Capital....anyone notice the word Baosteel in the links below. Think it's a coincidence?????? Also, look again at link 2 and you'll see another "buddy's name we recognize...JP MORGAN.

don't forget this history below :

TORONTO, ONTARIO - Noront Resources Ltd. ("Noront") (TSX VENTURE:NOT) is pleased to announce that it has entered into an agreement with J.P. Morgan Securities Inc., to assist the company in evaluating strategic alternatives to maximize shareholder value. JPMorgan will work along side co-advisor IBK Capital Corp. to develop strategies to unlock what Noront management and Board of Directors believe to be a significant unrecognized value in the company's stock price.

(1)

http://hk.linkedin.com/pub/ruby-chan/63/640/723

Ruby Chan's Overview

• Business Manager Asst. at Baosteel Group Co.

• Senior Operation Specialist at Noble Group

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(2)

http://www.whartonhongkong07.com/bio-s-shan.html

Biography of Dr. Weijian Shan

Weijian Shan is a Partner of TPG Capital, a leading U.S. based investment firm, since 1998. Mr. Shan has led a number of landmark transactions including the acquisition of Shenzhen Development Bank, Taishin Financial Holdings, and the acquisition the eventual sale of Korea First Bank which was once the largest nationwide bank in Korea.

Currently Mr. Shan serves on the boards of Shenzhen Development Bank, Bank of China Hong Kong, China Unicom, Lenovo, Taishin Financial Holdings and Taiwan Cement Corporation among others. Until recently he has been an independent director and chairman of Audit Committee of Baosteel.

Prior to TPG Capital, Mr Shan worked, between 1993 and 1998 at JP Morgan as a Managing Director, concurrently serving as its China Representative, Chief Representative for JP Morgan Beijing Office and Chief Representative for JP Morgan Shanghai Office.

Mr Shan was a professor at the Wharton School of the University of Pennsylvania for six years before joining JP Morgan.

Mr Shan worked as an investment officer at the World Bank in Washington D.C. in 1987.

Mr Shan received a Ph.D. and a Masters of Arts in economics from University of California at Berkeley, an MBA from University of San Francisco.