If you read the papers recently RIO is starting to take big bites in terms of putting money and effort to secure the resources that are important to them. The stalled IO Simandou and the Mongolian assets are in the spotlight and they are world class. They have been warned by a minority shareholder not to start do any large TO I suspect as a lesson from the recent past.
Don't you think EXT fits their strategy of controlling a world class asset and not spent many billions of dollars? I'll be keen to know how RIO react to this as infrastructure can be shared thereby cutting capex cost. Just curios.
EXT Price at posting:
$7.89 Sentiment: LT Buy Disclosure: Held
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