Seriously, this to me shows a move away from their RIO hopes for good. (We all know they are ruthless negotiators.) And more a determination to go it alone - in terms of doing their own thing with regard to timing and future direction. Not a decision they'd have made lightly, so they must have a definitive plan in mind. Not to sell us short for one thing.
Hopefully, major benefit to their shareholders, even much more longterm than any of us hoped, is part of that plan.
Very re-assuring, though, to see something of Kerry Stokes' poker hand in all this. Shows he's supporting something he believes strongly in, and is in for the longer haul. It's very very solid Management and Board.
IOH Price at posting:
$2.06 Sentiment: Buy Disclosure: Held