undervalued, page-15

And V


c) they have been offered $450mn for their interest in the project by a "major international mining company"


Coal prices rose to USD$300

Iron Ore prices rose 70%


I am sure the deal will go through.


Global credit issues are insignificant to the deal.

The buyer prob has billions in cash reserves and retained profits and will probably finance the deal via cash.


If the commodity was more 'spec' - ie, nickel, zinc etc (despit recent deals been for these commodities - OXR/ZFX, JBM etc) i would have minor doubts...BUT NOT FOR IRON ORE