Xstrata seem to be certainly talking HIG down a little. I appreciate that they are big and in the broader scheme of things Frieda is small compared to some of their other projects. They said that they were confident that an upgrade would come of the resource base. Such an upgrade would push the project closer to commercial reality than is currently the case. I wonder if this is posturing to put pressure on HIG for a potential future buyout?
HIG Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held
