CFE paid about $2m for a majority stake in DMC, they then sold...

CFE paid about $2m for a majority stake in DMC, they then sold it for an effective price of $100m. It then got taken over for $370m within 18 months.

I also believe that this also happens in reverse for a lot of the assets that CFE buys - it is a very worrying sign that they have had so many buyers in the data room and still no buyers.

Second rate mines with a high cost per tonne are not worth much if it looks like they will never get to production. The seaborne iron ore market is heavily dependent on the chinese. If the chinese economy experiences a downturn, IO price could fall very sharply.