Hi rj. Many of us studied this exact proposal far and wide when it was presented last year and most concluded that it was a very good idea at the time. I think that it still is. I find it an ingenious way to reduce and strengten the float while avoiding the consequences of a reverse split! THIS IS NOT A REVERSE SPLIT. A brilliant and shareholders-oriented move. Cliffs voted this out at the time (I was there BTW, the meeting was held in Montréal) What makes Frank think that Cliffs will support him this time? We'll know the answer to this question before long. I doubt he would try his luck a second time without being sure that this will pass... GLTA.