Hey Mark,

- The headline says "100% of current share price", or should it be "100% INCREASE = premium, OVER the current share price"? If it's the latter then we can all jump with joy! given the current share price of about half of $2.50/s. Unless you considered the BMO revised valuation of about $2.50/s as a reasonable benchmark.

The headline could then be modified with the "by XXX" with "by a syndicate led byYYY". YYY dearest is an entity we know well...then we can all jump with joy. Sarcasm detected?

Seriously, I would start with something like $5.00/s as initial offer to get a bidding war going.

- With respect to getting some $ for BC so that PRB would become a pure gold play, there are other options available other than spin-off.

(a) Put a "for sale" sign up for BC: Put it on eBay as an option, hey perhaps our company should try this, at least it will generate some good publicity. PRB can set a minimum bid, say $??? (name your price). A more subtle approach could be that Dave to have some chit chat with his peers around the neighbourhood, starting with NOT (remember BC used to belong to NOT?). The deposit has grown a bit more and the ore grade at BC, if I recall correctly, would be higher than that at BB. Also, BC sits on high ground, hence it would be easier to mine. Next in line are KWG, FNC, and BOL? (Note: Not sure if BOL can raise the cash, hence one way to this could be by spinning-off PRB as a separate company the have a JV with BOL, if there are more tragets to drill at BC).

Out of this lot,NOT seems to be the best candidate (with Baosteel in its corner) We don't need to get cash, NOT shares would do fine. The reason I prefer NOT is because NOT has the best chance to become a stand-alone mine starting with Ni and the using the Ni profit to finance BC and BB. I was also suggesting that NOT "start talking" with FNC as well, in view of the transportation access through FNC (and PRB) claims that CLF really need to get out of the box.

(b) Approach CLF directly: Let lave a good heart-to-heart talk, essentially to give CLF the first choice, before PRB would go to CLF competitors. But, please serious negotiation only, and no low-balls.

goldhunter