Thank you Misfit for the clause by clause analysis. In addition, Cliffs was upset over NOT's release on the Eagles Nest with regard to timing, not properly cautioned and not according to NI 43-101. This is amusing since FWR put out a release on FWR's chromite that they had 60million tonnes (on the high side) of chromite. This is over a 2600m strike and an average depth of 300m. Do the math. At the density in the release of 3.7 t per cubic meter, 60 million tonnes is16.2 million cubic meters. Given the length and depth of 2600 and 300m respectively, the average width of the ore body is 20.8 m. There is no explicit information that any of this ore is close to surface all along the strike. The grades in the top 50 to 75m will not make cutoff grade which is a huge expense. Cliffs/FWR are claiming this ore is open pit potential, but starting 50 to 75m down and mining to 300m will mean a huge stripping ratio, which is the primary deterrent to an open pit. There is no concrete evidence that this can be mined open pit because there is no work accomplished on the 43-101.