sorry to correct, but if you read the announcement it is 50% of the mine and a large shareholding in the company (4th paragraph) and all the gold etc produced, not 50% of the company. not sure how this structure works though.
So it would seem that TRF is holding all the strings in maximising the value of the mine with out any significant outlay ie no dilutuion in TRF
Next announcement will be the appointment of the Ironclad CEO.
As to demand for product from mine, it would be safe to say that the chinese, korean and japanese want to get free of the monopoly the Rio/BHP/CVRD have over iron ore. Taking equity interests and supply in smaller producers is one way. I would have no doubt that Ironclad will be stitched up very quickly by a steel producer trying to secure supply.
to retain 50pc in spinoff iron ore company, page-2
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