RE:RE:dividendI see now chance of a dividend prior to phase II being completed and or buy out of their GOV partner but it is not the preferred path.
If they want to reduce risk of phase II then they could defer a few quarters. We should get some insights within the next 3 or 4 months.
Now would be the time to negotiate a 3 to 5 year contract given the Vale situation and medium term iron ore supply instabilities. This would be a master stroke with low risk expansion on the table and would drive up the SP and prime CIA for sale.
Another option is to bring into play another partner and potentially a suitor who wants to dip in first.
Vale shows $15/t op cost and can survive the lowest iron ore prices although that is probably for lower grade iron ore. CIA is higher cost relative to Value and should not gamble on the price of iron ore long term. I am not sure who would be a high cost producer ...anyone know where CIA fits into that bill for high grade iron ore?
If long term contracts are not possible then perhaps the dividend option is a good Plan C or D, but that is not why I am here. I am here for growth and to benefit from the SP appreciation as the market recognizes the achievements of CIA.