Not sure how CLF has organized its subsidiaries in Canada, but just a speculation that CLF may take the opportunity to file for bankrupcy protection for this subsidiary... to run away from paying the $7.5M fine, which is a sizable chunk of cash which they cannot afford to let go.

The same thing could be said about the subsidiary that control the RoF assets. Did they comtemplate the possibility of doing so, to protect mother company from the potential liabilities? If this happened then the appointed trustee would auction off the assets to the highest bidders. It would be a guess that there would not be too many around to line up for the 70%BD, since the winner would need to deal with the other 30% that belongs to KWG. In addition, BH seems to be a better candidate for development by KWG.

KWG and BOL will need to conclude their agreement by year end. Just a reminder, Dec 31 is next Wednesday.

goldhunter