"OUTLOOK

The management of KWG continue to be encouraged in its view that the Company’s assets will prove to be catalytic in the development of mining in the Ring of Fire. It is our opinion that the chromite deposits of the Ring of Fire may have a combined life equal to an amortization period appropriate for the cost of an infrastructure asset such as a railroad; perhaps 100 years or more. When that term is combined with the present historic low cost of the capital required to construct such an undertaking, the unit cost for projected usage can be quite modest when compared to all available alternatives. The test work done to date on the conversion of the Black Horse chromite into a metallised chrome and iron alloy using natural gas, encourages us to posit that an opportunity to create a substantial and globally significant export industry in this key industrial commodity appears achievable. Existing transportation networks can be extended in such a way as to insure the environmental and economic sustainability of such an enterprise for the multi-generational production capacity of the resource that is now indicated."

I now believe that this natural gas conversion process could be a huge asset for the company. Will they roll it (and the IP US patent rights) into a Newco before a take-over bid arises?

The AGM date has been fixed to June 26 in Toronto. I expect many questions regarding the IP + natural gas process, Cliffs appeal, A-G intervention, further drillings to prove BH, Noront's reborn appetite for chrome, etc...

GLTA.