Having three bidders submit stalking horse offers is bullish - not having any of the three meet an acceptable threshold not so bullish. Not the end of the world - one, we don't know what they considered to be an acceptable threshold, and two, we know in general that many potential bidders prefer anonymity going into an auction. I'm disappointed in the sense it would have been fantastic to see a 150 mm stalking horse offer on the table - personally, I've always been more focused on the value in the Burnstone - it's as close to turnkey as it gets - Hollister isn't - that probably wouldn't have mattered two or three years ago - but I do think it matters alot now - damn damn hard to get the money to do development work/build a real mill that isn't hundreds of miles away.
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