Wrong wrong wrong Why why why Why is RIO not the natural developer for the project.... who can do it cheaper & more effeciently than RIO who already has a plant processing (as I understand it) similar ore right next door (conveyor belt in the desert anyone??) IMHO this point is NOT wrong.
RIO is at the table, and holds the trump, 20% holding, card.. sorry they will only allow a deal that benefits/includes themselves. whoever buys SD's stake will only do so with the prior approval of RIO in fact would only discuss price (with Dattels) once RIO has stitched up a deal with the buyer (offtake/development costs/equity share) It will be fait accompli by the time it is public knowledge... along the lines of "a joint statement from RIO & XYZ (insert areva, china inc, india inc, etc as is your preference for XYZ) No one will take on RIO not because RIO is some omnipresent force but simply because they cannot move to ownership given RIO's current stake...
The register is full, no party, in the carve up, can increase their stake. RIO's not selling, SD's not selling, any one who wants to buy must get it from one of these two, as above, serious players (areva china inc etc etc) will only buy Dattels stake with RIO's assent....... Dattels will not sell to them unless he is assured they will not onsell to RIO and deal him out/down. I think this is RIO's game however...... to wait for some party to buy a portion from one of Dattels co's (with a prior nod and wink) to then onsell to RIO. A game of bluff then between RIO and SD..... who will blink first.... RIO has just been through a near death experience learning patience..
EXT Price at posting:
$7.43 Sentiment: Buy Disclosure: Held
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