rio tinto may have to lift offer to win major , page-9

I expect to see a formal offer on the table from RIO this week. I am hoping to see some other bidders to push the sp up.

If only RIO, we may expect $18 odd; if others come in and bid, we may see a push to $20.

CSN and Tata could easily be taken out with favourable off-take agreements. Question is, what will PASSPORT want for their exit????

I'm in two minds over this possible TO. There is so much potential value in the RIV leases; I'd be just as happy to remain a shareholder for another 5 years.