THere are some beautiful strategies in motion with this JV agreement.

The first one is that CLF will be reduced to a bit less than half of their present KWG holding, since SPQ will acquire approximately 1.17 shares for every KWG one.

CLF now has to consider a break fee that has to be paid to the other one if they are successful in acquiring just one of them.

The cash raised from the recent PP, including monies from CLF, will be transferred to Debut Diamonds, effectively removing it from this new entity, so that even if CLF is ultimately successful they will not have access to it.

We have just witnessed the opening move and the first counter move in what could be a long and very interesting chess match.

As I said, beautiful strategies.

Best regards

K