I missed it 1st time around in catching up on posts -was surprising-doesnt negate possibility of supply agreement but bao aparently wanting to get price concessions longterm -so no longterm agreement as in annual contract-annual contracts dont make sense once spot prevailed as basis for contracts.

But surprising that boa would waste so much time-knowing what bob wanted after 1st go round-without locking in an exclusive supply agreement-which they still could possibly have-bao knows financials btw and needs ore outside the big 3-chinese co's do huge probono public works projects in afirca etc just to get a leg up on iron supplies.

Almost wonder if bob allowing pps to stay low until they have money for buyback instead of all for equipment acquisition-would only take ca 50k dollars/month to support pps w buyback-he noted this would be 7-8c pps if they'd done buyback vs equipment acquistion.

Dont think he realizes pps is only 1/8 of its high and those who bought on the runup in reliance on his promises are hurting badly.