RE:RE:RE:This is an market based on emotion.This question has been asked before to Mark on the CRUX show. Why did BHP and Wyloo fight for Noront when Dumont and Crawford are sitting there?
He answered that the difference is that The Ring of Fire was going to be bought over by a private company (Wyloo) and beyond the reach of the big public companies. He went on to say that often times the majors dont act until they have to. That is why we usually see an auction because the system is built that there is a 30 day period in which a higher offer can be given.
I suspect that the fact that Noront is high grade is a factor as well. The majors already understand high grade. Yes Noront has bad infrastructure and a smaller resource - but I think the majors planned to look for more nickel.
But it is getting late in the game, no Large scale high grade nickel deposits have been found. If the majors are hoping for a new discovery - it is going to be very tight on time.