Although some people will be worried that KWG will end up getting screwed in this "deal" and punished by Cliffs, the upside if the merger goes through is far greater. That's why I think we'll see support of the KWG share price above 10 or 11 cents over the next week. But of course, if Cliffs capitulates and finally agrees in desperation to put in bids for both companies, then KWG will shoot to approximately the same level as SPQ, which is a big potential gain. The exact amount will be influenced to the positive by the NSR and right-of-way on the railroad, and influenced to the negative by the larger fully-diluted share base. So KWG is still very much a point of interest.

I think one thing that we have to be thankful for, as retails, is the wording of Friday afternoon's release by Cliffs. They are obviously pissed at KWG and trying to punish them. That, to me, speaks volumes. There is no doubt in my mind now that Frank Smeek is doing what he believes is best for the shareholders, and there is no doubt in my mind that what he believes is best (the merger and all this back-room wrangling) is NOT the best for Cliffs, which is what has them riled up.

Sometimes, it is what can be clearly read between the lines of a NR that is the best info.