BananaB

So, most likely the dumping of shares was done by FNC from its 10M shares of KWG it got from the option deal. I just eyeballed the sales in listing of share disposal and add them up. But, the total did not come up to 10Ms. My guess was the first listing, instead of 388,000 shares (or 0.388Ms) should have been 3.88Ms to round up to ~10Ms.

10M x ~$0.04 on the average = $400k which is not a significant sum, but presumably FNC just want the cash in the pocket to make life simple.

CLF has ~100M shares (x10 what FNC had) hence it would not be to its advantage to flood the market with those shares. A private transaction, e.g. as part of the chromite assets, would give them a better return. Or, just give them to KWG for free, or as part of the sale package, in return for KWG not considering future litigation?

goldhunter