I think the bet on KWG now is to wait for the Court ruling that should be made following the dissenting process when the going-private resolution wil be voted at the Spider's October 4 Special Meeting. It may take a few weeks to get the final ruling, though, so expect an answer in lat e 2010 or early 2011. If the fair value of Spider shares are fixed at 30 cents, then watch out for KWG shares bids on the Venture!

Will Cliffs dare to wait for this appraisal to be made before making a move to KWG?

All guesses are good at this time. But there could be discussions held around the sale to Cliffs of KWG's 26,5 % share of Big Daddy (+perhaps RR ROW) in return for cash + Cliffs stock + Spider's diamond claims. This could be done through a reorganization by which the end result would be that actual KWG shareholders would received shares of Debut Diamonds (being then a well-funded diamond exploration company, with a 1% NSR on the whole of Cliffs chromite) + a whole bunch of Cliffs shares. (Hey Frank: Why not ask an additional 1% NSR on BD?).

Just talking, guys!

GLTA.

BaBe.