Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: Saturday musings

Well we had a very exciting week for KWG. We had the Ontario Premier go unexpectedly to Thunder Bay and announce his new ROF Cooridinator and mention the railroad in a very positive manner, then we had KWG come out with their news release to confirm they would be doing some core work and commencing drilling early Nov. and looking forward to working with SPQ to acquire our 30% of BD by completing the necessary work and moving forward, if need be, to mining with our "partner" Cliffs (FWR/SPQ) the chromite. Was this nr timed to bring attention to KWG & SPQ because of the meeting on Monday by Cliffs, to take SPQ private? Reading the Boards, the opinions are all over the map, someone stated that TD had dumped 1 Mil ,strangely immediately after the nr by KWG, was this an accident? What do you think? We know Cliffs can not purchase directly but as we saw with SPQ, they have lots of allies to do their dirty work for them. Others post, why would Cliffs want to take us out, duh. Our trading has been very low on most days and you have to wonder on the higher days, are other forces at work to control the price and give the illusion that people are "bailing"? One long term member on the other Board mentioned that he could not take it any more and after being involved with both KWG/SPQ since 2007 had given up the ship and sold in frustration. He was immediately derided for his terrible decision but different people act in different ways after extreme pressure and KWG shareholders have sure been under a lot of pressure with the whole KWG/SPQ/Cliffs debacle. We had a very positive post by Le Penseur last week after I questioned our Board's commitment to the cause with Cliffs and he, after his long talk with IR rep Bruce, calmed a lot of nerves, (including mine) so next week should be very interesting and of the 99 mil SPQ shares who did not tender by end July, how many are still dissenting? Hopefully we will find out next week and, most importantly, will Cliffs allow our 2 valuations to come out before the court if it gets that far? I only wish I could purchase more KWG because as this past week's developments show, at the end of the day we have a very valuable commodity in the Company and as long as we have the patience, should all come out one H... of a lot better than the .105 - 11 cents currently being offered for our shares. Good luck. rj

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