"Crucial point and what might take the decision out of Cliffs' hands (date for the take-over of KWG), is the date when approval is received for the PPP from 3P Canada. If it comes early (next four months) then I think the rush will be on for Cliffs to put in a bid before XMas and watch the outsiders (Xtrada, BHP, China, India...) re-organize to counterbid before the New Year..."

I strongly suspect that there is a stipulation in the 3P application that restricts the sale of the company to foreign interests immediately after being granted funds.JMO.

Kerry.