for me the key sentence in skipper's post is "China's imports of coking coal soared to 2.12 million tonnes, up 556 per cent from a year earlier." RIV has world class coking coal. World not short of thermal coal except India which has very poor thermal and no coking coal... but plenty iron ore. I buy all my shares based on the assumption the global financial crisis will return in about 2011-12 and will be 4x the prev size. Despite this am sticking with RIV as it has world class resource of highest quality and will be LOW cost producer. Still a TO target imo. BHP missed massive opportunity to acquire assets in the distressed conditions of 11/08-May09. Most shares are 2-4x their levels from this period. Kloppers has stated BHP is seeking 'large tier 1 deposits.' RIV fits their criteria and BHP already mine other minerals in Mozambique. BUY at these levels is my suggestion. Even if a TO doesn't eventuate RIV is good deal on its own merits.
RIV Price at posting:
$5.66 Sentiment: Buy Disclosure: Held
