I see some possible scenerios playing out here....I think both shareholders of these 2, will be winners, One SPQ, will be first, and two KWG will be a while longer....I think everyone already knows now that importance of Cliffs acquiring SPQ, much sooner than later...Mr. Novak indicated to me at PDCA, that he would only consider a deal for those 5 JV claims, which include Big Daddy and Extensions....

So I believe that will come first...I can't speculate on the exact amount since it depends on justhow BIG, Big Daddy really is, although I'm sure they know, but will they tell the markets the full size/story...this is where we need to be very vigilant...One thing is certain Cliffs is very concerned of having SPQ out there FREE to do as it likes...

Kwg on the other hand is a partner with Cliffs, and has members on the KWG BOD...I donèt believe that Cliffs will be iin any hurry to buy outright KWG, for numerous reasons including, Cliffs still needs KWG, in part for their canadian FACE, to organise their affairs, such as Canada Chrome, Geo studies and on and on...

I do however believe, that at some point before production by 2015, that KWG will no longer exist, and current KWG holders, will receive shares in Canada Chrome, with the 1% NSR,as well as shares in Debut diamonds, and a buy out price for KWG assets...That buy out payoff, will vary greatly, since as we get to that situatiion, my view is that Cliffs will continue aggressively increasing their holdiings of KWG thru PPs ++ etc, as agreed on by both...

Now the price paid by Cliffs for KWG, will exclude (minus) Canada Chrome and Debut Diamonds, I mean to say that KWG would receive a good price when all is added up...

IMCO
JD*