Does anyone know? It makes sense that the funds would be withheld if the recieving canadian company were taken over within a certain timeframe...maybe even for the whole period of the implementation and building of the project.

It's my impression that CCC would be spun out before the funds were allocated, but KWG can use this to their advantage and Cliffs still has to play their cards right...evenso they might not have anything to say about it if the approval comes after 1 April 2012, because KWG doesn't have to spin CCC or DDI out until the 3P funds are approved.

The section that Stevie Ray referred to, quotes that 3P wants to have all projects reviewed and a decision made, prior to the end of June next year...it might be done earlier but we don't know.

This also makes it very interesting for the other big players who realize that Cliffs hands are tied until the approval is given for 3P, but for their own purposes they could come in with a hostile on KWG ...on Cliffs or on both...and possibly a few others. Next eight months will be very intersting indeed.

Good luck to all KWG longs

LP