Wax and SG

all very good suppositions and possible outcomes. I have been after Peter to PR his holdings and get an analyst to take an objective view of - Champion - Argex - Magpie - Beauce and the other properties. Just layout the JV interests - shares owned - NSR's for each of the above and it far exceeds the current 40 cents per share.

Then we have the ROF and that alone is worth more than our stock price today.

Last year before the annual meeting Peter was scared s*itless and making calls to get shareholders like me to vote and was afraid of a coup. Point is that Pat and Peter do not own >15% of the shares and i don't know about "family and friends". Mineral Fields with all of its Flow thru owns quite a few shares.

Bottom line Noront and Cliffs are down right dumb - not to make a move on FNC right now. they could then piecemeal off all the JV interest and NSR's and recoup all of their buyout price and be left with ROF for nothing.

Dumber yet is Peters' strategy of "go slow" say nothing and ensure that he stays vulenerable.

magpie - after years of knowing he has billions of tons of iron ore that have some value... maybe huge value if they can effectively seperate the iron ore from Titanium which he now trying with Coram and others. He may have waited too long and not have time to get the results..

So Cliffs or NOT pick it up for Nothing and then unlock the value and reap the rewards.

Peter needs help because he blow with the wind in terms of strategy. he shows no sense of urgency

He did not listen to John Harvey and go deep on the existing holes - rather he tried the shallow approach on a new interpretation and if it were any good we would no about it.

so frutstrating to be a sitting duck and our Leader is in UK having a Jolly O time...we should go down with a fight but alas we are going to be sucker punched and knocked out.

Hope i'm wrong!