I'm not sure how this would work? Cliffs cannot sell KWG's share of Big Daddy, not matter what the price is. Only KWG can sell their share of Big Daddy.

The only way that I could see around this would be to buy the entire company. Buying KWG would cost a lot more than 4 cents. If there was any action on that front, the SP would climb into the teens or twenties in a matter of days or hours.

I think Cliffs is better off holding onto their KWG shares for the short term if there is any hope of development starting. They'll gain more from the share price appreciation of KWG than they would from selling it at a pittance.