"2. That Cliffs actually DOES go ahead and produce from Black Thor first, and let Big Daddy stagnate. In that scenario, KWG still has the railway as a strength, but their value as a partner in Big Daddy would be locked up for many years. Cliffs would probably buy KWG out for a moderate amount, quietly, several years from now under this scenario."

Hi MarlboroDog. This one appears significant to me as this is what Cliffs DID tell they'll do! Hence, they just wanted to secure the majority of the Big Daddy JV which they did by taking out Spider. What puzzles me however is why did they keep their 13% position (17% or so fully diluted) in the company, while they DID tell they'll drop it...

But what one has to look at now is the serie of moves that management did during the last few months: valueing the Rail claims and studies by advertiing and file the PPP request (though I personnally doubt we'll get a positive answer on that...), increasing the cash in hand by selling the NSR (18MM is far from nothing in the bank), shaping up the long-awaited DDI distribution (with Chris Meraw at the helm), creating CC Mining Corp. to receive the Big Daddy holding... (This last move is perhaps the strongest indication that a sale of BD is already hand-shaked with Cliffs, and that the 'garage sale' is about to end...)

Frank Smeenk has the ability to play the best with the cards in hands. I think there are more surprises to come, but there is a 'thread' that we can follow since a year or so: We had been screwed by Spider and Cliffs, we'll not get as much as we thought from BD. Fine. But we will get every penny possible out of it, and we aren't tired (!), we will find diamonds an maybe nickel and more chromite for our long and patient shareholders! (Which I am for sure, I can count decades since my first share purchase of KWG!!!)

GLTA.

BaBe.