The reason Cliffs ended up with SPQ. They made a joke of an offer for both or failing that, either one and SPQ capitulated and that is why KWG remains on the outside looking in. Cliffs would have much preferred KWG, I am sure, rather than SPQ but their strategy was to gain effective percentage control of Big Daddy which they achieved. We remain a thorn in their side and at some future point, they will have to decide wether they want absolute control or allow a , at present, 12 cent junior to be a 30% partner in BD. Which way do you think they will go? Great news on the finalization of the NSR. Ron