Massive Black Horse Chromite Discovery

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

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Message: The Destruction Of KWG

RJ.

I speak openly and honestly and share what I know including my humble opinions so my sincere apologies if you or anyone on this board took offence to any of my comments.

For clarity:

1. You make some serious accusations in your original post, including management being party to the manipulation of the share price (" I cannot believe that KWG management does not or did not know who was behind this very evident program of bringing KWG to their knees by continually throwing more shares at low prices to stop any kind of upward movement."), manipulating the share price for personal gain ("We have recently witnessed one of our senior managers purchase millions of shares at the .04 - 045 range. Have we been pointing our fingers at the wrong bogey-man?") as well as management misleading investors ("oh just wait, with all the good news being announced, we will see a rise in share price"). If even true and subsequently proven, any one of these acts has serious legal, regulatory, ethical and professional consequences. After reading your post, I cannot believe that I was the only member of this board to think to myself that a rational person should consider their investment in a management team that would engage in such serious acts.

2. I did not tell you or anyone else to sell your KWG or any other shares. My exact words were "you should CONSIDER divesting". I am merely suggesting (humbly, I may add) that you explore your options given the sentiments that you harbour above, and I believe to be a reasonable consideration in the scenario that was presented.

3. I believe that I adequately "...commented on the main thrust of the post, the obvious manipulation of the share price for the past three plus years." To summarize my post, I do not believe there to be any manipulation of the KWG share price over the past three years, that Frank and the KWG management team have done a superb job of enhancing the value of KWG and that our share price is a result of Adam Smith’s “invisible hand of the market” given the inability of KWG or any other ROF company to monetize their asset in the absence of an infrastructure solution.

Our common goal is a KWG share price that reflects what our company is worth and I look forward to contributing to that goal together in any way that we can.

KD

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