X2 could buy smaller assets

BHP Billiton lent a strong hand there, the news of the potential spin off of the noncore assets is starting to attract a lot of attention from everyone. There are a couple of stories this morning, including BHP may seek tax exemption for demerger: report and The $20bn question mark hanging over BHP Billiton's non-core assets. See that very last line, which suggests that a trimmer Mick Davis could acquire assets that BHP see as noncore: Ex-Xstrata boss ready to build new mining company X2 Resources. From other folks that I have been reading, this might well be kite flying on a grander scale, whilst continuing along the way selling smaller assets from time to time.