RE:Macro factors Exactly. What I've been saying. Macro economic factors are affecting WRN, RIO, Commodity prices, etc. the strong dollar hurting metals prices is a big part of that factor. The fundamentals of supply and demand have not changed and the world economy has not slowed so sufficiently to impact the story of a long term shortage of copper supply. Patience is all that is required.
Secondarily, $1B is a rounding error for Rio. Read that again. Therefore, buying WRN and even the captial
cost is not a big deal for a company of this size. What that means is the only thing that matters is how this fits in their portfolio and long term objectives. They have been here a while and are very engaged in the project. I'd say there is plenty of evidence that this fits well into both.