When Cliffs announced their intention to take over KWG/SPQ in late May and said they would secure a valuation as required for KWG, and then cancel it, you have to wonder , what were they thinking? Did they honestly think their offer of 13 cents would stand up? Then when they met resistance, they threw aside KWG and tried (successfully) to split the two companies. Their tactics toward KWG, who up til that time was a valued partner of Cliffs, defy comprehension. Do they honestly feel that Canadians, (not withstanding the Boards of FWR & SPQ) were that gullible to hand over a resource they had taken years to bring to fruition for 13 cents a share? This surely should go down as the "bonehead play" of the year and for a Company as diversified as Cliffs seems almost unbelieveable. Our KWG Board seems to be every bit as adroit to keep up with Cliffs and have sure made the last 6 weeks very interesting. Now with KWG shares being offered in the numbers they are, one has to realize that every share taken at 10 to 12 cents will come back to "bite Cliffs in the ass" as to my understanding they are not allowed at this time to accumulate. We all know they will come after those shares and do not want KWG to be their partner in the ROF and you have to wonder at what price, pride will die and they will move forward with a decent proposal to acquire KWG's share of Big Daddy. Sure glad I am in as much as I can be with KWG. I am sleeping great these days waiting for the next move and countermove, hope others in the play are feeling as confident. Good trading. rj