To be realistic, I think that the tremendous work that Frank and his team has done since the Cliffs' By-pass a year ago had the purpose of keeping the company under the spotlights and solidly alive. I do not think that KWG intrinsec value has risen so much since then. What might be expected if CLiffs decides to a take us out shortly? Well, I think the take-out would be made aroud 30 cents (after DDI distribution). Not so bad, then, I can't see Cliffs (or a white knight) paying more for 30% share of Big Daddy. Can you?

But to speculate further, I would love to see a merger with NOT, PRB, UC, etc... or a consolidation of the RoF claims into one entity, so that the sum of the parties would equal much more in my portfolio! 2011-12 will be crucial for our holdings. Many moves may surprise even the more knowledgeable of us all! KWG is a key player in any ways, we'll get paid some day, and this may be a question of months, not years.

Just imagine if the NOT-FWR merger had been succesfully completed in 2009... And if the KWG-SPQ one had been made in 2010... Noront would probably be the owner of Big Daddy and Black Thor at this time, and our FWR, SPQ and and KWG shares turned into Noront shares and warrants... And Cliffs, a Noront partner? Just talking, guys, we'll never know!

GLTA.

BaBe.