Cappy
let's remember, this didn't have to be sold out at this point and time, the area is still being discovered.
Cliffs grabbed it before any of the other majors could get up to speed and because they already owned a big chunk of it, they knew it was a no brainer.
It's like finding a Rembrandt painting at a garage sale. Only you know what it is and it's in your hands and you want to pay for it before the whole world knows you have it. You offer the owner $3, and there are others standing behind you at the same time saying,... "hey, I think that's a Rembrandt, I wonder what it's worth". Now Cliffs will,.... once again, walk around and brag, hey look I bought another Rembrandt for $3 !!!! How we can stop this, I don't know.
We really needed to keep Cliffs at bay until the whole world knew about this world class discovery, made the merger to buy more time and value, and there would be a real bidding war for the area.
Now that Cliffs has control of certain areas, it might be harder for other majors to get a proper foot in the door. I just hope the whole area doesn't fold to Cliffs like a cheap house of cards.
they screwed us all, let's not sugar coat it and pretend Neil had class.
Drew2222
