In the ROF Chromite, or it has no value...lol...

It is interesting and important to note, that this Major will not be entitled to any Debut Diamonds shares...just a little history of KWG...KWG a few years ago decided to "concentrate" their explorations to Diamonds, and not Base Metals at McFaulds, and SPQ decided to concentrate on McFaulds Metals exploration...to that end KWG has/will consolidate all their Diamonds holdings in McFaulds, including the New Diagnose Claims, Wawa, MaFayden where they are close to DeBeers, etc...

to that end, KWG also signed an Amended JV Agreement with SPQ, wherein SPQ would in time would increase their % Interest of the 2 HUGE claims , McFaulds East, and McFaulds West, to 30%, KWG reduced to 15% , with the possibly od SPQ to increase it's % Interest that additional 15% bringing their total INT in these 2 claims potentially to 45%, and KWG potentially's 15% Interest would be Zero under certain conditions...SPQ then gave up ipart of it;s share of McFayden, next to DeBeers, down to 15%, and KWG would eventually hold a 65% Int in MacFayden...

The only other property that KWG would hold at McFaulds is the FWR/SPQ/KWG JV in those 4 claims wherein the Chromite/PGEs was discovered...In other words Debut Diamonds would hold all of the above KWG claims, except above noted SPQ/KWG JV Chromite deposit...It appears from this KWG News release, that they are "selling" a Major portion of that SPQ JVS Chromite to Cliffs, in a rather complicated scheme of stock and warrants, however the total amount of shares Cliffs will earn is about 103,000,000 Million shares, which at this time represents 1/4 to 1/3 of KWG issued shares, or 25 to 30% interest in said SPQ jv Chromite claims...

For some time KWG shareholders had been waiting for the issuance of Debut Diamonds to shareholders, so now we can in part see see why this distribution was held up...It seems very clear that KWG still wishes to maitain the other 70% Int in SPQ Jvs Chromite claims, what they intend to do with it is anyone's guess..Still all and all a great move by KWG to raise the necessary funds for their explorations expenses....I believe KWG is likely waiting for further deliniation of the SPQ JVs Chromite deposit before they "deal" any more of their Interest in that property IF they ever do...

This NEWS should settle once and for the argument that the Chromites at ROF cannot be quantified or have no value...what nonsense...I believe this is just the beginning of Majors actual upfront involvement at the ROF...IF as I suggested Barrick now controls the NOT BOD, then the ROF Chromite deposits "battle" has just been joined by Clifs, and likely soon to be joined by others...

All of course IMCO

JD*