Your welcome Herebus,
The connection to McCarthur Coal relates to ARCELOR/MITTAL securing supplies and reducing their exposure to the open market, should they use their initial interest to launch a takeover of MCC. If this is the first shot in a mad scramble to mop up the mid tier coal plays, it would indicate concerns with availability of coking coal. This can only be a positive for ESI.
This may be a long shot. It has been reported that Ken Talbot would be willing to sell his MCC holdings into any bidder. With all that cash, i'm sure ESI would welcome him as a cornerstone investor. Plenty of brown coal supplies to keep him interested.
Cheers
RBA
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