Massive Black Horse Chromite Discovery

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

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Message: KWG to complete Big Daddy drilling in February

Absolutely dead on BaBe, my sentiment exactly. I might also add, consistent and readily meets their stated commitments, to your list of values being displayed by KWG management.

Also the metalurgical work is to prove Big Daddy's purity superiority versus Black Thor and therefore pressure Cliffs to mine it first as it is the most profitable and so provide the better ROI. I think some surprise samples they sent in last Sep/Oct, behind Cliffs back, demonstrated something like 92% or better recovery? Looks like that got Cliffs attention and they are now replicating this in plain site of their JV partner. We can be optimistic that we will hear results on the timelines mentioned in the NR. That in itself is worth a cent or 2 sp pick up, imo.

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