Agoracom: Small Cap Investment - KWG Resources Inc.

Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

Reply New Message

Back To Forum List View

azuza

Rank: Vice President [?]

Points: 1053 [?]

Votes: 97 Score: 3.3 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

Email from KWG

posted on Feb 22, 2010 05:15PM

Here is the email... AZUZA (Art)

Thank you for responding to our messageand providing us with your e-mail address. I've recently been added to the staff here at KWG reenhancing the shareholder communications program and that is why we are sending you this update.

As you probably know by now, Freewest Resources Canada Inc., our joint venture partner in the 'Big Daddy' chromite deposit was acquired in a takeover bid of $240M by Cliffs Natural Resources (NYSE - CLF) after the shareholders ofFreewest voted 82% in favour of the offer on Jan 27, 2010.

When Cliffs acquired Freewest they took control of the 'Black Thor' and 'Black Label' chromite deposits.

Right now KWG Resources and Spider Resources have an 'equal interest' (26.5% - 26.5%) along with Cliffs (47%) in the 'Big Daddy' chromite deposit and that will continue as we move forward.The key differences between KWG and Spider are as follows:

Please note somerecent newspaper stories about KWG that you may find of interest.

*The link belowtouches on our relationship with CLIFFS NATURAL RESOURCES (NYSE - CLF) and the view to developing the 350 km railway infrastructure into the 'Ring Of Fire' strike area.

**Thunder Bay Chronicle reporting on the outcome of the M&M Symposium on Feb. 10th

>http://www.torontosun.com/comment/columnists/christina_blizzard/2010/02/11/12845066.html

Below arelinks from the Februaury 3rd Thunder Bay Chamber Of Commerce AGM that include a TV interview (video) and a CBC radio interview (audio only).

CBC Radio (audio only): >http://www.tbnewswatch.com/Video/Default.aspx?art_id=18442

I'll be sending you a courtesy copy of all future press releases (via e-mail) as soon as they are made public. If you would prefer to not receive these periodic updates in the future, please let me know via return e-mail and I'll amend our database.

Please feel free to call us anytime with your questions.

Best regards,

Chris Meraw

Corporate Communications

KWG Resources Inc.

(416) 642-3575

(888) 642-3575 (Toll Free)

* KWG owns a 1% Net Smelter Royalty (NSR) on the 'Big Daddy' deposit as well as on the wholly owned Freewest (now Cliffs Natural Resources) property to the north, containing the 'Black Label' and 'Black Thor' deposits.

* KWG has Cliffs as a partner as a result of Cliffs approx 20% 'direct' ownership stake in KWG.

* KWG has staked the right of way for a 350 km. railway link that will connect the Ring of Fire to the existing rail lines on the north side of Lake Superior around Nakina.

5 Recommendations

Feb 22, 2010 05:38PM

Feb 22, 2010 07:35PM

Back To Forum List View

Please to post a reply