$2.70 is a bit remote in reality.
But in the next supercycle boom $1.50 is easy peasy if Southdown gets off with Shagang bringing in Chinese funding and maintain the 70% stake (7 MTA of premium pellets).
Shagang is massive, it's China 5th largest steel mill. A number of times the size of Bluescope and Onesteel COMBINED ! They'll come up with the cash. Taking a higher stake recently is a prelude to announing this arrangement IMO.
At $1.50, that's already 500% + gain from today's close of $0.28
Remember, when the tide comes in, everything gets washed up.
chalk it down bottom dweller 2010 the year.??, page-5
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