I have been giving this a lot of thought and would like to offer you my personal opinion why KWG sits at .05 range compared to what NOT seems to be doing now.

In the Fall of 2010 when KWG and Cliffs were involved in trying to keep Spider and KWG as one, Cliffs upped the anti to .19 per share and as we all know, Neil Novak accepted that sum as he "was tired" and so KWG lost our chance to hold off Cliffs. At that time, KWG was trading at approximately .12 cents. All we had at that time, of any consequence, was our 30% interest in Big Daddy and as long timers will remember we had two excellent valuations putting us as high as, .27 and another, I believe, around the plus .40 per share. Since then, we have solidified the railway route through Canada Chrome and alligned with Bold to get approximately 80% of Black Horse, a play with grades as good or better than Big Daddy. So much for the history lesson.

Now lets do the simple math, if Spider with only it's at that time, I believe, 27% share of Big Daddy was worth .19 to Cliffs, and now KWG with a full 30% share of Big Daddy PLUS Canada Chrome Rairway Right of Way and possibly 80% of black Horse is trading at or under .05 with always over 2 and a half million shares on the ask for .05. More history, November 16th, 2010 Cliffs owned 111,733,215 shares of KWG plus 48,460,049 warrants. and I think the percentage quoted now is that Cliffs owns 16% of KWG and based on our present outstanding shares of 747,412,273 plus warrants, options, etc. Cliffs would own around 120 million shares of KWG.

Now the big questions, 1. why is KWG trading so low, 2. who wins by keeping this play at .05.

1. I personally believe the reason KWG is trading for .05 cents is simply because some entity decided back in 2010 that they would eventually take over KWG and to do so, the price must remain low for that scenario to play out. Some blame the long, very long, last PP as being responsible for the .05 price but long before this latest PP was even thought of, the price was being held down every time any kind of positive news release came out. Based on what SPQ went for, .19, KWG should be trading in my mind for at least plus .25 or more yet it sits at .05 and many days, 045.

2. Who wins? We have been reading very much lately that Cliffs may possibly dump their Black Thor, Big Daddy deposits and move on due to their ineptitude in not playing fair with KWG and losing out bigtime on the Mining Commissioner's decision to grant KWG the RR right of way. If Cliffs now plan or even in a previous life, thought by KWG share price being very artifically held down, a take-over or a sale to a suitor would be very attractive when KWG's shares are available for only a fraction of their real worth. I wish to make it very clear, I am not stating that Cliffs have had anything to do with the price being held down but am only offering my personal opinion why we are trading at .05 cents and yet, the only other active player in the ROF at this time, NOT is more than doubling their recent low. No other stock in the ROF is faced every trading day, 2 and one half million shares on the ask and when any of those .05 shares are purchased, then an additional amount for the same price is quickly added.

I would like to get a lively, informed discussion on this on this, to me, obvious manipulation of our share price that as I previously mentioned, has been going on since the 2010 battle between KWG and CLF. As a further note, Since my recent Five cent, post, I have received PM's from two very much respected posters on this site who are agreeing with my take on this matter. Again, this is all in my personal opinion and I would enjoy hearing any comments from others, both pro and con on KWH share price. rj