Blackfly, thanks for posting. This is quite a comprehensive NR from KWG.

Two things that have been bugging me, hope some of you could provide some clarity.

- This NR says: "KWG has a 28% interest in the Big Daddy chromite deposit and is presently earning an additional 2% interest in it under an option agreement to create a joint venture with Cliffs Natural Resources on April 1, 2012." There is nothing new about this, the first part is clear. Currently we have a JV with CLF with CLF as the operator of BD, and the two companies are co-operating in doing the bulk-sample drilling to define the open pit. The underlined part at the end of the quote is the the troubling part for me. Question: What would be the fundamental differences between the current JV and the "new" one on April 1, 2012? Is this something that would advance BD JV to the next level...like plan to mine BD? Of course, negotiation wil take place like anything else, but what so significant about April 1, 2012? Some posters have used words like "CLF MUST do something...". Should the same phrase be used for KWG as well? What would happen if the don't agree.

- 3P application: The was some statement (over at SH) that seemed suggest that has missed the boat for Round 3 funding due to a reading of KWG previous release (appointment of FN person as Exec Director to be responsible for co-ordination of FN groups wrt the 3P application. The interpretation appeared to be based on the term "shovel-ready". Questions: What does "showel-ready" means?..and, is CCC/KWG is still in the running for Round 3 funding (qualifications wrt "showel-ready", and deadline)?

Anyone?

goldhunter