I was just out and about and saw that there was a lot of egg in...

I was just out and about and saw that there was a lot of egg in the streets. A lot of naysayers and so called concerned citizens had it on their faces.
We are selling a resource, not a broad of directors or their history. They were given a patch of dirt and they could see the potential. They could see a course of action to make a deal somewhere with someone. We have that now.
We also have a value. You have to dig a little deeper to get that value. As is the value of the resource is $0.25 USD per tonne in the ground. In an outright sale you may walk way with half that. The difficulty is the size leaving only a few that could buy it and develop it. As is there is 16 billion tonnes with 20% magnetite or 3.3 billion tonnes. Or $800 million at 25 cents or $400M at bargain basement.
More drilling and exploration is to take place on the lease. I expect that the resource will increase to 24 billion tonnes. Or 4.8 billion tonnes of magnetite. At DTM, CLE will have 25% ownership. They will also have a $4B capex debt which will come out of profits. This will be at least a 100Mtpa project.
The potential will be $100 per tonne IO price plus a $65 premium less $65 costs gives $100 per tonne then less payback gives $80 per tonne, of which a quarter is for CLE. Or $2B USD per annum for at least the next 30 years.
Is it a good deal? Hell yes. This is $US2 per share per annum for the next 30 years.