skin in the game, page-12

Peppie, would argue, with fair points that it is not possible to get Coburn up and that is ultimately the reason that we missed the last cycle. He could well be right and has a lot of experience.

My thought is that the company must try one last time and if unable then should look to get best value in other ways.

I don't disagree with both of you about the past but they are basically starting again which means the whole touting process, due diligence assessments, contract negotiations etc. this cannot happen in a month or two.

I reckon 6-12 months is what will be required under the assumption they can find a new partner. The touting has already started so maybe the end of the year/1st quarter 2015 is appropriate D-day time frame?

This time around I think we should be prepared to accept loss of control - in hindsight I think it was naively ambitious to try and hold Posco to a minority position. Better to have a minority slice of a producing asset than 100% of nothing.