tata steel says will hold on to riversdale, page-9

Firstly, you are not going to get a capital raising up, over $14. Try $10, which is what th Chinese were offered in the MOU.

Secondly, you will need more Billions for infrustructure expenditure to ship 20mt, than the $1B you mention.

Thirdly, Passport have sold large amounts of shares, on-market, in the past 10 days. I suspect they would have a much greater awareness of the sp valuation of RIV, then you appear to have.

Cheers, Skip