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 Provides Update

Yet it sounds like KWG is iniitating the 43-101 update, as Cliffs is not. Even a significant chromite increase may be assumed not material to Cliffs and as such mgmt would be able to ignore or delay. It is though, very material to KWG and its shareholders so it is appropriate that KWG comissioned the work. As well, now that they have their 30% confirmed, KWG should have no problem shopping that 30% of that updated 43-101 around. Must be alot of players out there that Cliffs would not want to be forced to JV partners with.

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