AGO and SH Folks,

Summary:Our share alone is @ 8.34%, just need another 14.5M shares to reach 10%. With management participation the count is over 10%, which is significant as far as compulsory tendering is concerned. With all management and BoD wts and opts excersised the count is 16.74% compared to CLF @17.4%.Note: There seems to be some 8M shares (=1%) that could be be included in our share count, but this amount has not been included due to lack of "formal" requests (= short notes to goldhunter).

However, to reach the 34% (greater than 1/3) there would be a need for participation from other small shareholders and/ or some friendly institutional shareholders. Note: The oustanding options and warrants from KWG website are significant (27%). If this 27% is counted then 16.74 + 27 = 43.74% (i.e. > than 1/3).

Cheers

goldhunter

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KWG share count as of 9 February 2012

(a) Total count: 93 posters (6000 small shareholders, a poster said around 3000, but the order is thousands compared to 93),

- 67.01 M shares, or 7.86%, fully diluted, w/o 4.1 M wts (853 M shares assumed for FD).

- 71.11 M shares, or 8.34%, FD, with 4M wts (ref #75 & #93 on list), which is about 1.7% (or 14,5 M shares) from the 10% target without counting management contribution. Note: 10% is the magic value for blocking the compulsory tendering process.

(b) Total count with management participation

- share count w/o4.1 M wts + (Management and BOD shares) : 7.86 + 2.10 = 9.96%; with 4.1M wts the count is 8.34 + 2.10 = 10.44%.

- share count with 4.1 M wts + Management & BOD options wts exercised): 8.34 +8.40 = 16.74% (+ a potential 1%, not yet declared from recent posting).

Important Notes: If the wts and options as discussed in Note 4 at the end is current, then 230M wts and opts could represent 27%) [assuming that they are in friendly hands] would change the picture SIGNIFICANTLY, since 27% + our count plus management (~16.3%) would push the total over 43%, i.e. > 1/3.

- CLF: 17.4%.

- KWG has bought back some shares for cancellation, but this would not change the % in term of relative ranking.

(b) Institutions: See note 5 at the end (links were provided by “fightiam” and “binvue1” from another SH board…thanks for those!). It would appear that the shares are widely held by some 6000 shareholders.

Goal for our share count: 10% plus a bit margin. Now we have 8.34 + 2.1% from management, = 10.44%, assuming no exercise of options and wts from management.

goldhunter

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List of KWG shareholders and share declarations as of 9 February 2012

Note to Posters:

1. Please verify your declarations.. The order below follows approximately the posting time)

2. If you want to change your status from anonymous to public, or error report please let me know).

Warning: The information provided was based on information available, some public which may be out of date, and declarations by posters most came under SH nicknames, some under anonymous, assuming that that the declarations are genuine . There is absolutely no guaranty that the information is 100% correct, up-to-date, and free of errors, hence it would be prudent for the users to verify the numbers as part of their due diligence (DD) before making any decision. The information gives a general indication of share holdings for some key blocks. Use them at your own risk.

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SH nickname (Million shares); AGO nickname as indicated

- #1 goldhunter 1.265

- #2 bcleo 1.000

- #3 flybyyou 2.800

- #4 dcs68 0.900

- #5 koooo 0.669

- #6 goodheart 1.000

- #7 winnie4u2 5.005

- #8 investment club1 0.600

- #9 anonymous 6 3.625

- #10 canuk3: 4.400 (could be more from a recent debate with another poster)

- #11 kander2 0.220

- #12 CYPSaviour 0.100

- #13 Suspect6660 0.092

- #14 EastYork 0.140

- #15 Little Lady2 0.145

- #16 anonymous 2 1.670

- #17 fordtrucks 0.200

- #18 embertr 0.238

- #19 waterboy2 0.350

- #20 chickendinner 1.030

- #21 johnbuoy 0.350

- #22 anonymous 5 0.500

- #23 huevos_ranch.. 0.172

- #24 anonymous 3 0.200

- #25 razmot10 0.510

- #26 out_at50 0.450

- #27 blackflies0.320

- #28 5353 0.500

- #29 frankblume 1.000

- #30 nsross 0.500

- #31 don36625 0.600

- #32 oreelse 0.500

- #33 parslja 1.700

- #34 oscarandbailey 0.031

- #35 johnni19r 3.000

- #36 dahrock 0.031

- #37 riverrocks 0.250

- #38 lowboy 0.100

- #39 huevos rancher 0.028

- #39 whiterock 0.190

- #40 remedy 1.600

- #41 kerfish 0.391

- #42 sapoa333 1.000

- #43 yukongold 0.058

- #44 jameslast 0.833

- #45 droptop 0.282

- #46 makada 0.100

- #47 wayne717 0.233

- #48 canadian bacon 0.059

- #49 makesence 0.208

- #50 johnale 1.000

- #51 squasher 0.6875 (AGO)

- #52 gmazerolle 0.179

-#53 Barbubeatnik0.405 (AGO)

- #54 harryd 0.105

- #55 cyril 0.200 (AGO)

- #56 dolphin 0.100 (AGO)

- #57 The Deputy 0.130 (AGO)

- #58 retired rookie 0.100 (AGO)

- #59 sdawoud 0.100 (AGO)

- #60 wishing 0.730 (AGO)

- #61 snowman 0.900 (AGO)

- #62 Malborodog0.626 (AGO)

- #63 Thistime 0.255 (AGO)

- #64 From_Sudbury 0.154 (AGO)

- #65 GleeGee 0.230 (AGO)

- #66 turcotte 0.400 (AGO)

- #67 blackfly 0.300 (AGO)

- #68 cappysmart 0.130 (AGO)

-#69 doryloads 0.150 (AGO)

- #70 anonymous 7 6.500 (AGO)

- #71 stratopod 0.020 (AGO)

- #72 bannaboy 0.350 (AGO)

- #73 cafegrains 0.550 (AGO)

- #74 Blairnessss 4.000

- #75 Blairnessss 4.000 wts

- #76 tie 0.215

- #77 19bud67 0.464

- #78 Camera Show 0.100

- #79 Jack Mak 0.051

- #80 Elmira Fish.. 0.150

- #81 grandejohnson 1.800

- #82 dancer 0.050

- #83 suspect6666 0.092 (AGO)

- #84 upnorth 0.025 (AGO)

- #85 redgreen 0.100 (AGO)

- #86 goldstar 0.200 (AGO)

- #87 ironwill0.027

- #88 Chauncey Gard0.100(AGO)

- #89 topdog1.200

- #90 waterboyfriends 0.500

- #91 blackfly_bro 0.085

- #92 bayboy 0.060 (AGO)

- #93 KeepDigging 1.00 + 0.1wts

Total: (93 posters)

- 67.01 shares, or 7.86% (w/o 4M wts)

- 71.11 shares, or 8.34% (with 4.1M wts, 1wt = 1sh)

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NOTES:

1. Share count as declared by SH &AGO posters, and reported “as is”. There is some indication (from recent "casual" posting/debate) that there could be some 8 M shares that could be added to the share count, but this amount has not been included due to lack of "formal" request to be included.

2. OS: 636 M; 853 M fully diluted (KWG has bought back some share for cancellation, but this would not change the % in term of relative ranking).

3. CLF: 17.4% fully diluted; 148.422 M shares of KWG (confirmed by Dir of Com in a telecon with Pear3, 7/7/2011 2:13:06 PM | Post #29947250)

4. Management + BOD (Shares+wts+options): Approx 72 M (= 8.4% fully diluted) based on the data in a research report (July 2011) kindly provided by a poster. Management + BOD shares only: Approx 18 M shares (= 2.1% fully diluted). Note: Need to verify management wts+ opts. Apparently, KWG website says 169M wts and 61 M opts. This total of 230M wts and opts represents 230/853 = 27% which is huge, compared to the 8.4% listed in share count for management. This could become a swing block.

5. Institutions: A quick check using the websites did not reveal any major institutional shareholders. The websites (which were kindly provided by posters “fightiam” and “binvue1 from another SH board”) are shown below for those who want to dig a bit deeper.

- Venture Exchange link:
http://apps.cnbc.com/view.asp?country=US&uid=stocks/ownership&symbol=kwg.v
- TSX link:
http://apps.cnbc.com/view.asp?country=US&uid=stocks/ownership&symbol=bnk.to

All you have to do is to change the relevant stock symbol

If you prefer you may go to the following site and navigate you way through:

http://www.cnbc.com/