Mr Utting said the potential shutdown of Cliff Resources would have an impact on the Esperance Port and producers.
"Cliffs has flagged the sale of its Yilgarn assets as it winds down production, this could leave some spare capacity at Esperance, there's no doubt about that," he said.
"The positive side about that is this could open up and allow a new or existing miner to take either control of Cliffs and mop up some distressed assets to give enough tonnage to keep their operations ongoing or it might just leave addition provide spare capacity for new or existing players. Quoted from the above article.
I cannot see anything but opportunity here for NMDC to acquire assets at distressed prices. Maybe this is happening in the background hence the price increase. Just my opinion.
Happy Mothers Day to all Mal
LCY Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
