I agree that is the perfect management response to investment funds (unsure the nature of the funds you are referring to) however i think POSCO bring more to the table then just financial backing. A JV that involved sale agreement, worldwide exposure, financial backing and the sharing of risk would be a very appealing prospect.
If DC can get us mining and producing with a MC equivalent to PLS without giving away a chunk of the company I'll send him a crate of grange. Although I doubt he would notice the extra crate in the cellar as his shares would be worth circa $110m.
Someone is going to take a chunk of this pie, might be a bank, super fund, offtake partner or competitor. I'd like it to be a company in the realms of POSCO. Even if us measly shareholders only finish up with half of the pie, I like the sound of half of a $6bilion pie.
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