Not sure why RIO would need to "take from LH", if it needs...

Not sure why RIO would need to "take from LH", if it needs volume given where prices are doesn;t it work best to just buy in spot market from whomever is selling cheap ?

If you mean RIO buying 25% of LH given the problems PDN are encountering, wouldn't they do as little as possible to help PDN, and just see how weak they get, before they cut any deal ? Also not sure how appetising a minority stake in LH would be for RIO, particulalry if John B is still running the show and calling the shots.

In terms of Jabiluka, I agree it remains a fascinatingly huge long term option on the U price. Presumably the path to any possible consideration on Jabiluka is both a big increase in the U price and a method of mining that is least offensive to the Mirrar - which I presume would be underground.

I also presume that anything on Jabiluka is years and years away (5-10year minimum ??) so Deeps is a bit of a proving ground along the way as its timed to come online (assuming grades are proved and mining approval achieved) in aboput 2years - when U prices should have staged some sort of serious recovery.