I agree with you Orbiter, something is going down. My gut feel tells me that the Ruski will offer 55 cents, which is cash backing.
I think for Usmanov, nothing has changed. Strike still holds high-grade iron ore deposits that have probably the lowest OPEX in the world (except for possibly some of Vale's mines) and the CAPEX will have also come down with the recent pullback in the markets.
I am also willing to bet that D&C will play ball with the Ruski.
Let's see what happens.
SRK Price at posting:
33.0¢ Sentiment: ST Buy Disclosure: Held
