I am afraid that i don't agree with you. KWG tried to object to the sale of the KWG shares, and wanted to buy them at a superior price. But as they were a part of a packet, it was not possible. Frank S. also objected to the sale using arguments like "they (NOT) have to issue an early warning" and so on. If they had an agreement or a shareholders agreement stating that they had first refusal to buy their shares back, Frank S. would certainly have used this argument - but he did not - which tells us that there is no agreement. I also think that some posters are giving too much credit to KWG standings in this process - they did not bid (they did not have the money) they tried to object about the shares sold to NOT (they had no argument) - i don’t think that this is a tactical move by KWG – imho they simply do not have a say. They are a little company with no money, a minority interest in a big project, NOT owning 13% of the company – I would think that Frank S. is afraid that NOT will go for nickel and only start chromite in 5-6 years – where will this leave him and KWG? Regards Lap