Cliffs is playing a dangerous game. By trying to bring down the KWG SP with disinformation and scare tactics, (saving short-term millions and potentially losing long-term billions) they are in essence highlighting the reasons why Xstrata would want to protect their North American chromium accounts / customers which are currently being targeted by Cliffs most recent NR.

I am confident that they will not allow the only chromium mine in North America (of any significance) to be handed over to a competitor, so that they (Cliffs) can come in and undercut the existing standing offers, primeraly because they don't have to ship it across an ocean.

Let's face it...if Xstrata buys out Black Creek from Probe and provides financial backing to KWG for the RR and / or for their chromium, as well as protection against potential cash calls from Cliffs for the development of Big Daddy...who do you think will have priveledged access to the RR for shipping out the ore. Who knows they could even become partners in the RR...even better still, Xstrata may decide that they want it all including Cliffs.

I would be really interested in seeing the calculations associated with a comparison of profitability from shipping by the proposed RR or by truck on the road...I wonder what the ROI is and how it compares with the profitability comparison between Big Daddy and Black Thor. I think this point alone brings into question the credibility as well as the intent behind any statement made by Cliffs with respect to their choice of developing Black Thor first, rather than Big Daddy.

Best of luck to all KWG and Probe shareholders. After all we do indeed have common interests.

LP