You're right, the NR from January 6th 2015 doesn't say much other than KWG was still trying to raise the cash.

"The Company also announces that prior to December 30th, 2014 it proposed terms to Bold Ventures Inc. (“Bold”) for the further amendment of the agreement between them for the acquisition of the mineral rights in the Black Horse deposit. The Black Horse mineral rights may be acquired by Bold under an option agreement with Fancamp Exploration Ltd. Previously, Bold and KWG had extended to December 30, 2014, the deadline by which KWG must provide notice that it intends to make the $700,000 option payment due February 7, 2015 under the KWG/Bold Option Agreement and expend an aggregate of $8,000,000 on the property by March 31, 2015. KWG has to date incurred $5.8 million of the $8.0 million required expenditure and is proceeding with a prospectus offering of securities to fund the additional work."

Then on January 21th 2015 the short NR:

"KWG Resources Inc. (TSXV: KWG; Frankfurt: KW6) (“KWG”) announces that it has withdrawn its amended and restated preliminary short form prospectus dated November 13, 2014 due to market conditions. KWG will consider other financing alternatives as needed."

This says it all. KWG is not able to raise money untill the infrastructure issue is solved. The interesting question in that regard is, what will FNC do ?

The delay is force majeure. KWG (NOT and everyone else) has lost a year. So will FNC agree to extend the option agreement by a year on the same terms. That is what I would like to know.

Best regards DRA