Thanks Irish, maybe 2 very important points from this Document:

1) The Special Committee and Spider Board have determined that the Cliffs Superior Proposal

constitutes a “Superior Proposal” as defined in the Combination Agreement;

2)For 5 business days following compliance by Spider with the notice requirements in the

Combination Agreement, KWG has the opportunity, but not the obligation , to amend the terms of

the Combination Agreement and the Spider/KWG Merger. The Spider Board will review any

offer to amend the terms of the Combination Agreement and the Spider/KWG Merger to determine

in good faith whether an offer, if any, by KWG would cause the Cliffs Superior Proposal to no

longer be a “Superior Proposal” as defined in the Combination Agreement; and

3)

The Spider Board and Special Committee, with financial advice from TD Securities, are considering

the Cliffs Superior Proposal in accordance with the terms of the Combination Agreement. The

Spider Board and Special Committee will provide its recommendation with respect to the Cliffs

Superior Proposal and any offer to amend the Combination Agreement and Spider/KWG Merger

upon the lapse of the 5 business day period referenced above . The Cliffs Superior Proposal

remains open until June 22, 2010.

There is no need for Spider’s shareholders to take immediate action and we will advise Spider’s shareholders

of further developments relating to Cliffs Superior Proposal as soon as practicable.

GLTA