Possible future share price is based on various scenarios - all speculative and subjective, there arent enough hard facts to go by --

If the FWR and KWG, SPQ joint venture deposits are the site for a chromite mine, KWG would have a nice revenue stream from the 1% Net Smelter Royalty. The question then is, how much revenue? That depends on how much chromite is shipped, at what price, and at what cost. Yes, the price per ton may be anything from $300 to $500 per ton (or more), depending on market conditions and the grade of ore. Add to that possible revenue from Platinum Group Metals (PGMs). But mining and concentrator costs have to be subtracted.

This is a definition of Net Smelter Return - The Gross, or Net Smelter Return (NSR) Royalty, is characterized by royalty payments that are a fixed or variable percentage of the sales price, or gross revenue, the mining operator receives from the sale of mineral product from the property. The mining operator's gross revenue, in metal mines, is often referred to as Net Smelter Return because it is common for the mining operator to sell the mineral product in a form that requires further processing by a smelter or refinery. The Net Smelter Return is the amount of money which the smelter or refinery pays the mining operator for the mineral product and is usually based on a spot, or current price of the mineral, with deductions for the costs associated with further processing. In non-metal mines the selling price is usually 'fob mine site' because of the transportation costs involved in delivering the mineral product to the buyer.

This revenue stream would begin several years from now, and anything could happen in the meantime.

KWG also stands to benefit directly from the deposits they find, as any exploration company hopes to.

Best I dare say is that if KWG still exists several years from now, their share price could be many times current price levels.

In the short term, the next several months, we could easily see a multiple as the market realises the size and quality of the deposits in the ROF. Cliffs alreasdy has a substantial stake in terms of percentage of shares, and is likely to resist take-over attempts by others.

I own KWG shares, also FWR and some NOT