It will be interesting to see what KWG will do with its righ of first refusal. More squeezed than ever as a minority partner and now only one majority holder to deal with... I guess KWG could purchase a 27,5 % share for 3MM$ (which it has the cash for) and become 50/50 with Cliffs. Or else Cliffs has just triggered its buying of all UC and KWG's JV interests with them (including Big Daddy).

With the garage sale actually in progress with KWG non-chromite assets, and considering the recent corporate movement inside the KWG group (creation of a new CCMC in August to receive the KWG Big Daddy share), we can strongly speculate that aggressive consolidation is occuring around Cliffs RoF properties...

I am a bit amazed of the price of 6MM$ attached to the 55% interest sold. Moe' holes are probably just holes, sadly, and Frank's interest is probably low as to this property, because Jim has certainly pre-offered him the land before going to Cliffs...

Good to see consolidation going on, but the numbers involved are a bit frightening for the future of our RoF holdings...

GLTA,

BaBe.

(Now we know waht Gary couldn't talk about...)