westcott,
That's a definite possibility.
IMO if PC were hopeful of a JV though, he'd be sticking around, especially when you think about the integral role a CFO would play in helpng structure a JV and working though associated infrastructure financing (being talked about in another thread). If PC thought all of that work could be ahead of him as CFO, with the possibility of working in a company jointly producing 35mtpa of iron ore, I doubt he'd take a job as CEO of a company with an MC of less than $30m.
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