From Cliffs third quarter report- caps mine

Cliffs is increasing its expected range for global exploration expenditures to approx $30 million to $35 million. In addition company increasing its expected costs related to its acquired chromite project in Ontario Canada to $15 million from its previous expectation of $10 million DUE TO FEES INCURRED FOR THE SPIDER RESOURCES TRANSACTION.

Obviously Cliffs expected to get Spider for the $10 Million and with KWG involvement, were forced to pay an extra $5 million to complete the deal. With Spider almost completed and just a few dissendents shares to acquire, in my opinion, KWG must definitely be next on Cliffs radar. rj