BarbuB,

I was wondering about that myself, but made a "leap of faith" by assuming that either CLF does not have that provision (usually, a majority shareholder would be given the ROFR to maintain the percentage). But if they had that provision, then I would expect to see some kind of details wrt CLF taking the option, or not, to maintain the ~16% by buying approximately 16 -14.2 = 1.8% of 850M shares (everything is approximate in this calculation) = 15.3 M shares @ 0.10/s (assumed) for $1.5M which would go into KWG's kitty (more money for Frank).

I would say this info is material, hence KWG would be required to report it. Perhaps, CLF is given some time to make this decision? It should be noted that in the same NR, KWG reported some flow through transaction which would rake in some small amount (~ $0.55M with all wts exercised).

As you said it would be interesting to watch CLF reaction to this move of Frank.

Just my speculation. Anyone want to jump in?

goldhunter