Good morning Rockstar. Your suggestion is that the 400 mil Cliffs has arranged would be used for a buyout? This is puzzeling to me. Please clarify?

I would think that if your sp is on a tear as Cliff's is, (JP Morgan and Deutsche Bank Raised their est. to 83.00 and 85.00 respectively) then wouldn't you use the appreciation in your stock to offer an all stock transaction? A minor dilution on an appreciating sp is much easier to sell to shareholders than burning up cash in a tight money supply (M2) enviroment.

What makes you believe this would be a cash deal and the closing of this 400 mil facility has anything to do with a take over offer?

Frankly, I still have not heard or seen anything to suggest that Cliff's is even looking at another ROF aquisition? None of the CEO's of the juniors has even suggested that they have been approached and Cliff's has only stated that they are looking for "strategic opportunities worldwide". That's a pretty broad statement from my perspective. People keep alluding to knowledge that, to date, isn't backed by anything but speculative increases in sp of certain stocks. Has anyone spoken to the investment bankers of SPQ? They are the first to be involved if there is anything in the works.

The first thing to determine is "has anyone signed confidentiality agreements with the investment bankers"! If not,

Then no deal is being discussed.

Just curious as to your thoughts?

Carry