What the point of having a "dead bird in hand".
Once Xstrata walks away, Arcelor Mittal, Minmetals and others will be all over SPH in no time. SPH should play hard to get.
I bought my for less than 30c and I am not signing.
SPH has ore (plenty of it) and infrastructure solutions pretty much in place.
$4.00 is about right.
Just ask yourself, where else can Xstrata find another long-life high grade magnetite IO province close to European customers ?? None !
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