This doesn't iclude shares tendered under directly to Cliffs. I would not hazard a guess at the ratio of shares sold on the market vs the number tendered. We also don't know if the arbitragers got many today or the sales have gone to Cliffs.

I'm thinking by the end of the day Cliffs and the Arbitragers likely have between 40 & 60 % of the float. Cliffs controled about 20% before the open today.

Good luck to everyone on this adventure. Certainly not how we wanted it to end but most will be above water.

I have sold into the market.

Keeping the KWG shares hoping to see value there in the next year.?????

JMHO

A