Cappy,

Swapping ore?:Start the interview video around 3:07. This discussion on swapping ore is kind of interesting. So, the suggestion was given up some share of BD, say 2% out of the 30% of BD (2.6M tonnes, or 2.6 x $325/tonnes = some $800M for the projected value of lump chromite). Frank just threw this in as a potential possibility for getting the money to finance the RR. CLF can pay that $800M from the production of BT (no cash requirement up front from CLF). $800M is a good starting point for financing the RR. Of course CLF and others can chip in the additional amount. Now all this is based on the assumption that CLF will develop BT first. But, CLF can always change it's mind and develop BD first (the cost of mine development, BT, BD, or both simultanously, is trivial compared to things like transportation corridor, near-mine concentrator and the processing facility. Note Frank facial expression (smiling, smirk? some would say) when he talked about all this (note his expression at around 4:36 as well).

In summary, Frank came across very well in that video. Looks like a down-to-earth but very confident individual (CLF: just don't mess with him). He did not say anything bad about CLF, just a competitor who be willing to engage in negotiations, in good faith of course.

KWG, according to the mining act, has control over the claimed transportation corridor.

goldhunter