"This of course will fall very nicely into CLFs pattern of action - they are very good at what they do!! - simply wait it out - price goes ridiculously low 7-8 cents then a low ball bid comes in. Expect something somewhere around 1-2 cents above the recent high of 12 cents."

One must not forget that Cliffs is (still) an insider, and would trigger independant valuations of KWG shares whenever they shoot in this direction. Also, Spider's current dissenting process will settle publicly the fair value of Big Daddy, of which KWG hold 26,5% and is the actual operator. So I do not expect an hostile bid from Cliffs to come in a forseeable future... I may be wrong, however, so many surprises seem to happen in the area!

GLTA.

BaBe.