I noticed over the last 2 days quite a bit of what I consider to be "water under the bridge"....It flows and flows with no consequence....
FWR's Shareholders Rights Plan has done at least 2 things...The millions of shares, rights, warrants issued to Cliffs and the BOD, will all be excessed, and will prove to be unsurmountable for NOT, since FWR is very close to the 1/3 Reject offer, that it needs to put the final nail in the coffin, on this DOA "puny offer".... NOT, then recognizing this "factual reality" has indicated they may be forced in to withdrawing their "offer", unless FWR sets aside this important Shareholders Rights Plan...
Anybody here who thinks Mac will set aside this S.R.P.,which was precisely enacted to avoid/defeat any "puny" hostile offer, such as this one...a "snowball's chance in hell" that Mac will comply with NOT's demands...So NOT addicts can "argue", with mis-dis information all they want...It's done like dinner....one can stick a fork in it...
It has become much more clear now to me, with all the evidence around, of the deep and solid relationship between Cliffs and FWR, and the 2 JV partners, as evidenced by all the preliminary work being done, on said claims ,including the railway etc.....I believe Cliffs will start out, blasting out an open pit, concentrating some the Chrome to market grades, and shipping out the Chrome....In about a year or so following this work, giving Cliffs some time to design ,plan, for a smelter, which will likely be build within the next 2 years..The advantages Cliffs will have is the much lower costs of producing Ferro Chrome, with the latest smelting technology like "corn roast", technology which would be implemented/included in the building of the new smelter for best/lowest price possible...Yhis would mean that the initial stage of mining ,open pit, the Chrome may/will not be that great, and will give Cliffs time to plan for the most cost efficient smelter for the FerroChrome....
Cliffs is in the ROF to stay and develop the HUGE Chrome Deposits...
IMCO
JD*
