Can't see why the deal would not go through. We are already selling iron ore to China. The difference with this deal is that the ore is still in the ground and they have to get it out themselves.
I think is an excellent strategy to get rid of a low grade magnetite mine and get some cash to position ourselves for bigger and better things.
From what I have read the one tenement that is not part of the deal is worth $350m (strictly speculation DYOR). We are talking about $400m now and hopefully $350 later, a total of $750m. Divide that by 350m shares + options equate to $2.14 each. And what is the price now?
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Can't see why the deal would not go through. We are already...
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