Massive Black Horse Chromite Discovery

Black Horse deposit has an Inferred Resource Now 85.9 Million Tonnes @ 34.5%

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Message: Re: Thoughts from Keep Digging
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Jul 06, 2012 05:51PM

Goldhunter, I agree that The deputy has raised some interesting points that one has to consider when you are handing over any of your personal power. In this case I do not think we are handing over any power, but rather the opportunity to unite common interests to one focal point.

We often see companies being taken out without the retail shareholder being considered at all (see previous posts from many Spider shareholders including me). this really happens because as individual shareholders pour shareholding mean next to nothing. You really started this process for us all by collecting and distributing the information on on total shares held as a group. Together we have a very sizable shaecount and stake in the success of KWG.

Having someone like Keep Digging (and I am the first to admit I do not know him or his background other then what he has posted) gives us the next critical piece for both ourselves as shareholders and the company management team, by knowing there is a very strong indicated support from the retail side for managements actions to date and going forward. This allows us to both keep management advised of the retail support they have and to get updates from management through one contact point, making the communication much more managable and efficient.

When it comes down to the bottom line we likely all have a share price that we would consider fair value and if there is an offer from Cliffs or anyone else, it will be each shareholder who will send in their vote. We have not proxied our vote we have only proxied our voice in the short term to try and make reatail shaeholders a force in these ongoing negotiations.

I guess this was a long winded way of saying, I think we are on the right path here to help KWG management move forward in building shaeholder value.

Wishing

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