Today's ask in excess of one million, six hundred thousand shares @ .04 cents. We have seen KWG subjected to this kind of Ask activity for many months, if not years and I am sure we have all wondered, who is "dumping" such large quantities of KWG day after day? At last count, I believe, I saw something posted saying Cliffs were in possession of approximately 111 million shares of KWG. We have to ask ourselves, who would benefit day after day by this wholesale dumping of shares? My theory, and again, I could be wrong, is that Cliff's have been, and are responsible. The next question, is why? We all know that when Premier McGuinty was in power, Cliffs were making and made all kinds of "deals" to secure most of the chromite in the ROF. Their big plan to have several hundred large capacity trucks moving chromite hundreds of kilometers 24 hours a day was certainly only a pipe dream. They knew they would need a railroad and were hoping with the governing Liberals, would get everything they needed, at KWG's expense to make this happen. Well as we all know, things did not go as Cliifs and the Provincial Liberals hoped and as a result we have this quagmire we are presently in. What Cliifs have in chromite in the ROF, in today's scenario is almost nothing. The high grade Big Daddy and reportedly, moreso in Black Horse, leaves Black Thor, etc. with their much smaller grades to possibly remain in the ground for many, many years. So why would Cliff's wish to dump KWG and kill the share price? Again my theory is that they desperately need a buyer and how much more attractive is their package, if they can have KWG "in the toilet" as it presently is, and arrange a buyer for most of all, Big Daddy which Cliffs owns 70%? A buyer gets KWG's 30% for peanuts, instead of the actual value. Look at all the other ROF players, NOT, BMK, PROBE, etc., none of them have this massive millions in the Ask column we see every single day with KWG. I may be entirely wrong in the above scenario and if we have anyone knowledgeable about the workings of the Venture Exchange and how large stakeholders in a company are allowed to dump, please advise me and the Board, otherwise I personally feel this is not some disgruntled shareholder selling for Tax Loss Season, etc. but is, and has been a very controlled excercise to deny all KWG Shareholders their true value in this play.

A very merry Christmas to all and many thanks for allowing me to participate for the past many years on this Board. rj