Good point regarding Cliffs.
IMO you can't soley base a decision to not invest in PLV on the fact that Cliffs did not want to get involved with a project that was reliant on getting approval to mine from landowners which had previously denied this to BHP.
Maybe Cliffs saw too much risk and therefore didn't want to get involved? The question I have is, why retain a 10% stake in the company as at November 17 2010? Why not sell the remaining 10% and completely derisk althogether?
My take on it is that Cliffs wanted a foothold in the PLV project so that if they did happen to get approval to mine (which obviously they have now) they would be in the best position possible to acquire a majority stake.
A while ago there were discussions on this thread about Cliffs finishing up on Cockatoo island late 2012/early 2013 and a supply gap being created for them...
Anyway I still haven't seen any notices stating that majority shareholders are selling down so I'm still happy to hold.
Just my opinion.
DYOR.
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Good point regarding Cliffs.IMO you can't soley base a decision...
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