My take is Cliff will want to take all of PRB and make money on the pieces as they see fit. Cliffs has all the resources and expertise to do just that. IMO,Cliffs has not moved yet for strategic reasons,which they want to fall into their positive favor.

At the moment 15 day average sp for PRB is 1.83: give it a 30% PRE. and we get 2.38,which was our intraday high.

Cliffs are no fools and will get what they want at the cheapest.JMHO.