Because who is going to front up a premium for a t/o at 30c++ a...

Because who is going to front up a premium for a t/o at 30c++ a share when so much capital needs to be spent and iron ore prices are sliding south for the long term when they can purchase direct from the big guys.

I would expect some initial lower ball offers (perhaps JV?), with negotiating possibly in the high teens, low 20s if it does happen?

That is also 400% of what it is trading now....regardless of how much ore is in the ground it is still in the ground and look at current SP...

i like this resource dont get me wrong; i just dont think anyone will be paying a 600% premium in the forseeable future.