Thanks Peppie for pointing out that Rio held this tenement till...

Thanks Peppie for pointing out that Rio held this tenement till 2009 when they had to forgo due to the global financial crisis (SFX 7 September 2011 announcement). They probably had reasons to let go of a world class deposit. Maybe it was a strategic plan that they had to give up some assets to be able to go through GFC. If only they foresaw the headache they would have at RSA, they would hold on to it. Since Rio still has Richard Bay project, they might not bid Thunderbird.

However, I think the most likely bidder would be ILU whose zircon reserves start to dry up. Maybe 7:1. Just guessing