Well, it only took a year, but as predicted, "FE" has finally ended up with the ground I spoke about in the above post. You can read the announcement here
http://www.asx.com.au/asxpdf/20110322/pdf/41xl40b3g8lz2r.pdf
Tony Sage controlled entities CXU and CFE now move to 13.26% and 19.28% ownership in FEL respectively
Also as predicted, one year on and JMS is yet to make its move as the self proclaimed "consolidator" of the region. Although people doubted my comments that Cliffs would lead consolidation where possible, it is Cliffs that have entered into a JV with RLC in what can be considered a regional coup for the southern wheatbelt. Yes, it is outside the Yilgarn field of play, but not my much, and it does prove that Cliffs are on the hunt. Anyway, I digress...
I must say I am surprised at the favourable terms for FE.
Jack and Jill went up the hill to trade their moose for millions of magic beans. Wonder if a year will pass before this makes any sense.
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