hmmmm,.... let's see

"Cliffs also announced that it has advised KWG to stop work on a valuation of KWG because the valuation is no longer necessary. Cliffs, which owns approximately 19.3% of KWG on a fully-diluted basis, originally requested the valuation on May 24, 2010."

Here's another possibility if it hasn't already been considered.

So,.... since SPQ re-announced their intent to merge with KWG yesterday, Cliffs probably doesn't want to pay for the valuation. Why would they ? The valuation was originally intended to help CLF takeover 1 or both companies. Now KWG is using it against CLF and the pending valuation is helping to create a bond between SPQ/KWG and make them stronger.

Of course CLF doesn't want it done anymore, it's backfiring against them. CLF is in a little trouble here. Esentially they were paying to sharpen the knife that might slit their own throats. Of course they want nothing to do with that !

Drew2222