Gotta say, there's a lot in your post that's hard to argue.

I'm not pleased that it will take so long to start drilling either. Personally, I don't find it a good excuse that to save costs they want to use a rig/crew that are already in the area. I would gladly see them spend more cash, even pay a premium for a quick startup, ESPECIALLY since roughly 75% of the costs would be paid by Cliffs. And there's plenty of cash on hand, and the endgame would appear to be within striking distance. Perhaps there are other circumstances which are unknown to me. All I can think of is the terrain, which we all know is...well....moist to say the least, and trying to drill between the dry summer and frozen winter months could be messy.

I think it is a real possibility that there is an ongoing dialogue between KWG and Cliffs, but I very much doubt it is a back-door deal to sell shareholders down the river. If you've ever spoken to Frank Smeenk in person, you would have a hard time believing that too.

I as well would really like some more official correspondence from the company. Even some update on the website every other week or so giving some strategic updates, some forward-looking plans and ideas; however it does occur to me that KWG, by necessity, needs to keep the real meat of their plans secret to maintain some form of advantage, however small, to take into negotiations.

I suppose in summation, I still hold every confidence that our management is doing everything they can to improve the situation for every shareholder. Whether things work out how we want and hope, we'll have to wait and see.