Question, page-76

Cockatoo would have been worth a tilt for the Irvine synergies but as a stand alone mine all paid for on the never never at loan shark financing rates it was never going to fly - Cliffs were the smart ones, they were happy to give Cockatoo away to get back their $20m bond - then they dumped their 10% PLV shareholding - no off market buyer for that stake was an early warning sign I would have thought ? - if it walks like a duck it probably always was a duck