not so sure I see the "deal" going thru. Most likely outcome now...

not so sure I see the "deal" going thru.

Most likely outcome now is for an immediate go ahead for the pellet plant in china minimising capex requirements while locking in short term high margin pellet manufacturing business. Possibility MGX will also scale back involvement somewhat ..
issue will be whether they get much for any portion of their existing share of the JV they offload. (remember pellet plant fully permitted and signed off environmentally etc)

Regardless... active interest from significantly larger parties tends to suggest something else afoot.
Possible those buying might just be building a stake for onsale to third party.

Haven't seen anyone else comment on the possibility that someone such as BSL might evetually try to lock in some local iron ore production/access as Onesteel have previously done.

Either way this company, even alowing for their bumbling, is worth something in an ongoing boom.

watch this space.

My opinion only etc.