Massive Black Horse Chromite Discovery

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

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Message: Not over yet?

Hi LB: i'm no expert, but I think that an appeal is to be filed with the Divisional Court, which is much less formal and more expeditive than the Court of appeal. I do not know however whether the Divisional Court's decision would itself be appealable to a higher level...

But will Cliffs go to appeal this decision? Cliffs made a bad stategical move in letting KWG dry when they finally got Spider. They did not know Frank Smeenk well enough I guess... Will they now accept to discuss seriously with him? Taking KWG over would be the best way to gain the RR claims, the remaining of Big Daddy and a solid foot in Black Horse! How much $$$ is the key point. Frank will not let go the company unless he gets what we could have had in 2011, (+ a litlle extra for 2 whole years of disrespect and bullying!!!) Is Cliffs in a position to invest a hundred million dollars now? Not sure... They are working hard to find a partner to delelop BT... Hell of a good timing now for the arrival of this one, don't you think?

GLTA.

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