From the May 2011, MD&A. Cliffs stake is 17,6 %.

"KWG invited Cliffs Natural Resources Inc. ("Cliffs") to subscribe to a private placement of treasury shares in early 2009, as a result of which Cliffs presently owns 17.6% of KWG’s outstanding shares."

Really interesting read. (A must read!) Look at the aggressive way management presents the company, achievements, overview, plans etc... KWG is far from looking like a dead duck! I think Frank nand team are there strong for the last fight!

http://www.cnq.ca/Storage/1358/123583_2010_KWG_Year_End_MDA.pdf

GLTA.

BaBe.

(Sorry for the double post, copy-past problem...)