rio tinto may have to lift offer to win major , page-6

Happy to watch and hold my shares.
RIO may even pull out of this deal. What RIV has to offer long term is awesome.
Positive barging news alone will shoot this up over $20 IMO.

The press this is getting is building a bit of hype. Many may be jumping on for the quick buck but I personally it will not be a quick deal no matter who makes an offer. I believe there are too many large stakeholders who bought in for the deposit not an investment. Offer to sell a grip on the coal supply going into the future predicted shortfall better be a good one.

Here is some of the press

Australian investment firm LinQ Management, expects Riversdale to be hotly contested, given the scarcity of good quality coking-coal assets and boomingdemand from China and India for the commodity

http://seekingalpha.com/article/240448-riversdale-s-takeover-battle-win-win-for-tata-steel?source=feed

Rio May Need to Raise Potential Riversdale Deal 25%, RBS Says

http://www.bloomberg.com/news/2010-12-07/u-s-commodities-day-ahead-copper-advances-to-record-in-london.html

RIVERSDALE Mining executives will meet potential partner Wuhan Iron and Steel over a $1 billion coking-coal ground and equity deal.

http://www.theaustralian.com.au/business/riversdale-mining-to-meet-potential-partner-wuhan-iron-and-steel/story-e6frg8zx-1225967232245

This isn't the end of this story.
Riversdale's assets include the Benga project and neighbouring Zambezi project in Mozambique with high-quality coking coal used in steel-making.
It also owns an operating underground coal mine in South Africa, Zululand Anthracite Colliery (which is the hardest of call coals, but not much in demand in China, Japan or Korea).
To seal a deal, Rio Tinto will need to secure support from Riversdale's major shareholders: Tata Steel, Brazilian steelmaker CSN and China's Wuhan Iron & Steel Corp, plus a big American hedge fund.

http://www.sharecafe.com.au/article_air.asp?a=AV&ai=18834