Massive Black Horse Chromite Discovery

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

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Message: Question/Thought

I'm just going to throw this idea out for general comments: I don't think we're going to see a sudden take-over offer for KWG before April 1st. The reason I think this is because an offer usually takes several weeks to resolve. If an offer for shares was presented tomorrow, it would be difficult to effect the closing of the offer before the end of the month.

At best, I would think maybe we would see something announced shortly into April, if there are any significant corporate developments in the works.

Of course, any of a number of other things could possibly still happen at any time (or not for months), including:

- PPP funding progress.

- Cliffs deciding to develop Big Daddy instead of Black Thor.

- Progress on railway or road development.

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