Hey Malborough,

Still out there planting little trees?

Conspiracy theories? There are plenty, just let your imagination run wild, based on past event of course with some twist.

It would be a safe bet that CEOs do talk to one another, especially those with RoF interest...NOT and KWG sound like a nice couple, so Wes and Frank is just a buzz away.

The idea of NOT and KWG forming an alliance is interesting, since it would be similar to the NOT/FWR situation. But in the end NOT lost FWR to CLF (but with pile cool cash in the pocket after this TO).

NOT may try to do that again, but this time would be with the blessing from KWG. This overture for sure would trigger a counter offer from CLF... and we would have an interesting fight. However, this time NOT would have Baosteel in the cheering section.

A potential scenario: NOT would quietly acquire a large chunk of KWG, say 20% of KWG (or swap shares), and then NOT would offer something like 2 NOT for 1 KWG ($0.70). Enter CLF... with 1 CLF for say 40 KWG ($40/40 = $1.00) as an initial counter-bid? CLF may even try 1 CLF for 50 KWG, but this would be matched very quickly by NOT with the backing of Baosteel. The saga would have all many twists and turns which may include CLF and Baosteel working together for a solution that would benefit everyone, e.g. CLF would sell 70% BD to NOT/Baosteel for some RR privilege? Whatever the outcome, CCC or a Canadian company would be left standing to act as a (Canadian) conduit for government funding for the RR. That RR will be build, almost guaranteed.

There are two other pieces of the puzzles in the area to complete the picture: FNC and PRB/BC, and I believe they both want to divest their RoF holdings. So, something may happen to them along the way.

Feel free to sketch out other conspiracy theories, keeping in mind that Wuhan and other gorrillas may enter the fray. Note: FNC has Fe, and may be Wuhan wants Cr as well. Oh yes, CLF has some connection with Wuhan via Consolidated Thompson TO.

What a tangled web they weave!

goldhunter