“Without access to the surface lands to develop the needed infrastructure, there is no project. Our proposed development has the scale needed to develop the road access and is therefore a catalyst for other smaller mining opportunities in the Ring of Fire. Cliffs is very disappointed in this decision, but beyond our project, it is clearly an issue for anyone interested in seeing these opportunities in the Ring of Fire becoming realities,” commented Bill Boor, SVP Global Ferroalloys with Cliffs. “While we are open to possible solutions, without a pathway developing quickly to overcome this major setback, it is going to be difficult for us to justify continuing with the project at this point in time.”

Oh Boy! The gentleman is obviously not happy at all!

But I have a question for Mr Boor: what about Cliffs decision to develop 100% held Black Thor first in lieu of Big Daddy (as highly recommended by your partner KWG based on serious studies). You decided instead to wittingly look down on your partner, hoping to have it dry out fast ? THAT looks to be THE very disappointing decision Mr Boor, not the COmmissioner's! If you had decided more wisely, you would have save months of needless delay, you would have your road bed, you would have saved a lot of money, you would have kept your pride, and you would have a pleased partner and happy shareholders! Too bad for you! See you at the negociation table when you're ready, we'll certainly find some common grounds to delelop a pathway to overcome this major setback, don't worry!

GLTA.