I think this valuation is a great idea but should be looked upon as just another tool in helping us to decide FMV. They will have to make assumptions about mining and transportation costs etc., and these will be made based on the current realities. An announcement from another ROF player showing economical numbers will all help to reduce risk inherent in this investment. As will further announcements concerning government participation and a realistic partnership with the First Nation communities.

So all I'm trying to say here is this is a valuation being done we hope and assume by people with more information and experience than some of us. But at the same time by its very nature will require them to make assumptions.

Don't forget that as time passes here these assumptions turn to hard realities and if you believe as I do that this area is certainly going to be exploited for its mineral wealth then this valuation will only increase with time.

I will bet that Cliffs sees this as clearly as anyone.

Vote for the Merger, we need a little time before this is ready for market.

Just my opinion

A