Goldhunter- I tend to agree with most of what you have said. I for one would think a more "fair value" is around $1/share, but what I was stating was that at $0.40 there may be 2/3 of the non-Cliffs shareholders that may grab the money and run. If you fast forward and some new and material positive events occur for KWG, that number will change, perhaps to the $1/sh plus level.