Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: Re: Cliffs just hit a snake! Breaking thru support!
10
Sep 20, 2011 03:31PM
10
Sep 20, 2011 08:40PM

Thanks for this RL...much appreciated...and significant in my mind. This AM...Cliffs gapped to the downside and is in the process of breaking through a fairly significant level of support (approx $67.00)...bouncing around on a triple bottom and a downward flag...if it breaks though, next support level is around $65.00 (not that strong) and then it on to $62 and $60...at one point someone (Deep Pockets Inc) has to see this as a TO opportunity, unless they're looking for the fifties which they might not see until the partnership on BD is locked in. (April 1, 2012). It is my impression (DYODD) that the preferred scenario in the eyes of the acquiring company, for both a take-over of KWG and/or a take-over of Cliffs, is for it to happen before this date.

Good luck to all KWG longs

LP

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