This morning a small Canadian venture exchange company, Noront Resources has bought an American company called Cliffs Natural Resource. They have done this with the financial backing of Chinese steel producer, Baosteel and Noronts largest investor RCF. They have managed to get the major company for an unbelievibly small price due to market conditions worldwide. Cliffs shareholders are suprised with the turn of events and most have lost many millions of dollars because management sold out because of signing bonuses paid to them. Noront will be starting the construction of its flagship Eaglesnest this week with an anouncement of the agreement between the FNs, who will be handling all enviormental concerns and the Canadian goverments for infrastructure right of ways for North/South rail and an East /West all-season access road. KWG and Noront along with several other companies have also signed an association J.V. agreement to work together on all resorces in the area.