ausinger,

As I have stated before, I am in both NOT and KWG, so I am not going to pitch one against the other. I want both to succeed (i.e. to make money for me and ther longs in both camps)

That said, I have a few comments on your assertion.

1. NOT is in a more fortunate position with the backing from Baosteel (~9%) and RCF (~19%), but the share price has not reflected its potential (any explanation?). NOT has Ni and PGM and these alone would be make some tidy profit...and they can do it now, once they have the permitting requirement in place.

The chromite BB, etc...is in the (near?) future but not a immediate priority. There is a potential for a JV with KWG to develop bothe BB and BH at the same time by sharing the same ramp for a UG operation. So, why not spend the time to create a good chemistry/synergy etc between the two companies, rather than spending the time (and create the bad chemistry) e.g. by challenging Koper Lake claims which NOT lost following a fair staking race. NOT has enough Ni PGM and chromite resources to focus its energy on. Why pursue trivial stuff as I have indicated in my previous post.

2. KWG is an underdog in the RoF (with CLF out of the picture, we only have 2 signficant companies, i.e. NOT and KWG. KWG has been under the thumb of the old CLF with its old-styled and bull-dozing management which wanted to hang KWG out to dry and twist in the wind. It was CLF who started the easement application for its private road on KWG legitimate claims. Rumour says that this was unofficially "supported" by the previous government along with some $600M subsidy from the government. Not sure why your finger was pointed at KWG in the dispute with CLF. Similarly, for the Koper Lake claims.

3. You said: " ...heck, they're even complaining that Noront wont let them use their airstrip."

First, can you provide the reference for this complaint, including which air strip?

If it was the new proposed air strip on the bank of the Muketei River then it was a joint thing (along with the accomodation for workers) between NOT and the old CLF.

It would seem that NOT worked well with old CLF (just bought the exploration camp) and has expressed interest in buying CLF chromite assets. The hidden crown jewel could be CLF 14% stake in KWG. Just hope that NOT does not learn the strategy from Bill Boor (let KWG twist in wind). A JV is better than court cases which would slow down both companies. Let's hope that the new CLF would change its influence on the RoF.

BTW, would it be a fair complaint from KWG, if it is blocked (by NOT) from using the airstrip?

4. KWG doing nothing? Just look at a few major item below:

- JV with BOL to prove the BH significant resources. It would be premature to develop a plan for BH while there is no friendly major shareholder to back it up (CLF is certainly not a friendly partner).

- Proposed the RR for the RoF (for use by everybody)

- Proposed plan and drafted legislation (see Press Release) to turn the ONTC into a Port Authority.

- Proposed a much more economical conversion process for chromite using natural gas (its own patented process, which could be a cash cow processing RoF chromite, or by licensing to other companies outsidde the ROF).

- Looking into a slurry pipeline for transporting chromite to a conversion facility (near Nakina). This may be the way to go while waiting for the N-S corridor to unfold itself. BTW, NOT should seize this slurry pipeline potential as an opportunity to transport its chromite out of the RoF as well. Working in co-operation (cost sharing) with KWG would be much much better for both companies.

- One more thing, IMO (at least my crystal ball says), in the end chromite development would be first started with BD (30%KWG, 70% CLF)), and perhaps BC from PRB, the 2 best (grade and location) resources in the area.

BB, BH and BT would be left in reserve. BT was a bad choice for CLF, at least from the grade point of view. The on-site upgrader alone would cost some $800M (along with its $600M 50% share for the private road on KWG claims). In addition, the energy-guzzler electric arc furnace (~$1.3B) will also require hefty subsidy from the Ont Gov for years.

The costs of the upgrader, road and energy cost for the arc furnace alone would be more than enough to finance a 300km slurry pipeline (some indicators: $600M for 420km pipeline in Brazil; $300M for 160km pipeline for the Raglan mine to Prince Rupert; and NOT estimate for the slurry pipeline from Eagle to Webequie Jct).

You may want to dig a bit deeper for more details and for your own DD, since the above just came from my memory.

goldhunter