MarlD,

Thanks for your thoughts. Some clarifications on the points below.

2. Perhaps, I was not cystal clear, but yes, "letter to clients" are those to investors (like you and me) who put the money in the fund for LK to invest on their behalf. The communication to KWG, presumably was done at the same time as the "letter to clients", since this is only a courtesy, given that LK is not an insider (@6.3%, this is not 10% but it's still a surprise to see that this ranks not too far behind from CLF at 14%OS) and are under no obbligation to inform the companies (in its holding) of its investment activity, particularly selling. I was just wondering if LK informed other companies (in its holding) when it sold their shares (e.g. CLF shares, as a tongue-in-cheeek example).

My guess would be KWG knew about the sale (dump) in the open market, contacted LK to confirm (with enough contact in the brokerage firm Frank would know who was trying to unload). LK came clean along with the info that the 8M already sold. It was informative (and a good decision) for KWG to issue the NR to lay the fact on the table for its shareholders. The message was it was a liquidation of an investment fund, and not anything drastically wrong with KWG. At least, it was my reading of the NR.

3. Agreed with your remark: "Every penny counts. But in the big picture, other considerations could have outweighed the losses in their KWG holdings." Gut feelings say that the dump was for other reasons. But, what other reasons besides those usually related depressing the SP to make a potential TO offer for KWG look "so reasonnable", e.g. a premium of 200,300,... 1000%, etc, that investors who want to get out would jump at the "golden" opportunity. Just a guess here, but most of us here belong to a hard-core group that would hang tough, until the price is right.

4. Presumably, Bruce would know if LK has liquidate all its KWG shares (can someone give him a stir?). But imo is that the dump was not quite done yet, and we could make a good guess, from the volume, if LK is still selling next week.

My crystal ball says they still have some 30M shares to unload, so get your dry powder ready. I still have some dry powder left, but it was ear-maked for 2 other potential picks, but on a spur-of-the-monent I might decide to roll the dice on this one, lol. It's just too hard to resist. As Admiral Farragut said: "Damn the torpedoes, full steam ahead".

This is speaking out loud on the use of "not-for-grocery" money, and not an investment advice. Each person his/her own.

goldhunter