If you go back and look at KWG NRs from 09 you will see that CLF entered the "Ring" with the same investment amount as HBM. CLF did private placement of 3.5 million. It took them a year to pounce, divide and conquer. So you can see the strategies here. I'm surprised this has not lifted all companies in the ROF more, but it may take time to sink in. HBM has about 1/3 of MC of CLF btw. And if we see NOT below 1.20 again I would consider it a huge blessing.