Company SP Mkt Cap #shares

BHP $71 $113B 1.6B

Rio Tinto $54 $77B 1.4B

Glencore/Xstrata $5 $70B 13B

Vale $14 $44B 3B

Cliffs $18 $3B 153M

NOT $.54 $125M 232M

KWG $.075 $56M 750M

Bold $.075 $5M 63M

Talk about slow and steady wins the race. KWG continues to impress with their insight and determination. They have gone from a small exploration team to a serious contender for the Chromium Heavyweight Title.

Glencore and Vale are obvious contenders to take a run at KWG since they have operations in nearby (relatively) Sudbury.

Although these large companies are closely watching developments in the RoF (and throughout the mining world) they are reluctant to get involved at this stage and with the politics. They prefer to let the little guys sort it out before they step in. They have bigger fish to fry at the moment.

However Mick Davis adds a different dimention to the situation. He could easily see the RoF as his opportunity to get back into the mining arena in a big way, although down the road more than he would prefer. He would also see it as a slap in the face to Glencore since they are on the backdoor.

The prospect of Davis jumping into the race could expedite a move by Glencore or Vale.

It is looking more and more like Cliffs is on the outside looking in.

But hey what do any of us retail investors really know?

SN