"I think it relates to those who had promised (mild word) to tender to NOT, and did NOT."

NOT needed 12.5% to get Cliffs to stand down. They got 4.9%. Pinetree was on BNN stating that they sold, Cliffs won, on Dec 11. At the time, Pinetree had an early warning on Sedar. Any bad blood here?

Sedar
Freewest
Early Warning Report filed Nov 26,09
Sheldon Inwentash is a joint actor, in at 4.6%, with Pinetree Capital LTD., 5.5%; total 10.1% of Freewest.

Regards