Ann: Appointment of Citigroup as Corporate Adviser, page-41

Not as Silly as it sounds Rio has been divesting masses of assets especially Coal, so they would currently have free cash from all of the coal sales on the East Coast. the Coal and Allied sale to Yancoal alone was $3.5 billion if i remember correctly and I am sure they divested most of the Queensland sites as well.

So if divesting in coal which has been a leading product where are they looking to jump next. maybe Lithium or maybe Cobalt. Havent heard any rumors.

Dont think PLS as there cash will be stretched till they start production now. On the other the hand the mine gate agreement that we were told about in December between PLS and ATLAS would make it appealing for them and ATLAS to look at their situation, but if so I think it would have to be a pure equity swap as neither will have free cash that I can foresee in the short term.

No matter it does seem to be interesting times for the coming few months.