company say project will proceed, page-3

hey lara

i agree on the hole takeover thing for pluton but id be pointing the finger more at cliffs.
cliffs are a US listed company which mine iron ore all around the world including cockatoo island. cliffs have a mkt cap of $13.7 b US and had a net income of $1.4 b US for the 09/10 year
cliffs are the top shareholder in pluton and i think they will allow the project to de risk a little more before launching a takeover bid.
thats just my view
one good thing i came across when doing my back ground check on pluton was that if there is a takeover bid from another company cliffs either have to vote it up or counter bid