Thanks Hoov

I'm trying to better understand what options are available to the partners either with or without a merger.

Does anyone know if KWG is able to purchase another 1% NSR?

I also wonder if the RR ROW may not get spun off here and instead play a role in KWG's next offer. This I feel could become a sore point to Cliffs. If the RR work was slowed for a year or two while other companies in the area prepared feasibility studies etc I could see this really annoying Cliffs. Their Black Thor and Black Label deposits would loose some shine.

It will be interesting to see this amalgamation proposal when and if it is made. I'm still optimistic Cliffs will adjust their current offer sooner rather than later. Very light trade today at .165 is telling them they must bump things up another notch.

Good luck everyone.

A