dancer,

Your post says: "I do not want a jv with not involved, I am a not shareholder BUT I am getting fed up with AND do not trust the current board over there." Underlined mine.

There are many options to form a JV. The key supporter would be a heavy weight like Baosteel (but others would do), since KWG would need some deep pocket to provide the Capex for the mines and mill, starting with PRB BC assuming that PRB is a willing. Dave does not want to be bothered with BC. His heart is with the gold in Borden Lake, hence he would be happy to let KWG take the lead (as the operator of the JV).

As long as KWG is in the driver's seat of this JV, we don't really care if NOT joins or not. Most likely it would join with the persuation from Baosteel (with 9.9% of NOT, and a director sitting at the table to keep an eye on things). Resource Cap Funds, RCF, has some 19% of NOT, but they are in this just for money and would be willing to sell their stake to the highest bidder, Baosteel included. They might want to invest in KWG for the building of the RR (the cash cow). But the key player would be some (off-shore) heavy weight like Baosteel which has the appertite for chromite and Ni for making stainless steel.

If I were KWG Frank I would start with Baosteel and PRB (for its BC) and proceed from there.

A couple of billion dollars required for this scenario is chump change, in view of the potential $36 B investment pledge from the Malaysia's state-owned energy giant Petronas, just announced by PM Harper in Asia.

Construction (of RR and mills) is profitable business and many big-named entities would line up for an opportunity to build the infrastructure for the RoF, especially if they see the support from both levels of governments. You could ignore Ontario if they cannot get the house in order. The Fed alone can push this through.

Optimist, say you?

goldhunter