Todays move by KWG, in my mind, is a stroke of genius. What does Cliffs do?

They have three options - 1. Take up the 3 million offered, 2. take their 20%, 3. do nothing. Remember in the heat of the SPQ takeover, Cliffs made the statement they would probably sell some of their KWG holdings. How much, if any, did they sell? Word is, not 1 share. Option 1, if Cliffs takes it all. we will certainly know how much they want and need KWG. 2, they will retain their approx 19%, option 3, ain't going to happen. KWG may have forced Cliffs into a corner and as a result, they will have to s..., or get off the pot. This additional funding will help work on Big Daddy and railroad costs. My understanding is Cliffs has 7 days from last Thursday to respond, so hold on to your hats and watch this weeks' developments.

On another matter, re the Chinese connection, I mentioned last week, turns out the 2 Chinese gentlemen I mentioned are in that post, are very involved in Asia railroad development. Interesting is it not? They have built train stock and are very familiar with all things railroad. Why would the Premier of Ontario hold meetings with these gentlemen about Ontario investment? The ROF surely had to have come up in their discussions.

Drilling update - as you know, we are sharing the drilling camp with FNC and they started their drilling last Friday and we are slated to follow them very shortly. This is only a temporary camp and will be used for this short drilling period.

Railroad - If you follow the NOT site as many of us do, you will see the NOT BOD has visions of a "super highway" built & financed(?) by them to truck out the ore. This ain't going to happen. That land is mostly muskeg and it would cost a fortune to put a road there. Imagine many, many trucks every day hauling gigantic loads of ore around the clock, how long would the road stand up to such abuse? Look at your own Provincial roads and see the damage done to them by big rigs, especially in the Spring. As for a Winter road, last year they had 1 for a week and a half. How much trucking could you do in that time frame? And the synopsis for this year, is more of the same so that dream will only remain a dream.

Anyone want a Dissent update on SPQ, please visit that site and I feel we are going to have a very interesting week with KWG. rj