SPQ will continue to trade on the TSX until such time that all of the shares are owned by Cliff.

The tender expires on 16 July, after which time Cliff will pay out those who have tendered, or they will extend the offer again. At this time, I doubt that Cliff will be looking to extend, since it provides more time for KWG to get their ducks in line for the upcoming battle.

At this time, if you are still holding shares, or your tenders haven't been taken up, it might be worth it to see how far KWG can expand the fair market value. If you want to do that and have tendered already, call your broker and rescind the tender.

We all saw their valuation report. They will start drilling next month, and that means that the 43-101 will be further defined, solidifying the inferred tonnage into indicated.

As it turns out this is not a single 9 inning ball game. Apparently we are in extra innings, and KWG just smacked a good one over the head of the pitcher.