All KWG Longs,

Don't expect too much from the KWG in terms of detailed rationale and disclosure for the proposed share restructure as Frank and the management team at KWG are brilliant and seasoned strategists. Just look at their track record.

Did Frank disclose when he was working on securing an alternate chromite deposit when he was negotiating the Black Horse deal? What would Cliffs and/or other competitors do with that information if they had it in advance of KWG making the deal? What about disclosing their plans to stake continuous claims for the transportation route? What would Cliffs and other mining companies have done if they knew this in advance? What about securing aggregate claims? How about disclosing that they were planning on filing for a North American and international patent for ferrochrome processing that would potentially change steel making? A strategy only works if you can conceive and execute value added and creative tactics before your competitors do. We've said it on this site many times - Frank is always steps ahead!

When you bought your shares in KWG you made an investment and a vote for management and I can't understand the fair-weather investors on this site. Frank seemingly pulls rabbits from his hat at every turn (see list above) and we are all so quick to commend and high five Frank on this site when he does so. Then we turn on management when we see something that, in my opinion, many on this site do not fully understand, namely the share restructure. Frank and the team have done nothing but enhance the value of our company, position KWG as a leader in the ROF and position us for incredible shareholder return.

Based on the track record of this management team, the incentives facing them in terms of enhancing shareholder value and the advice I received from my lawyer (I again retained a Bay Street securities lawyer to read the Share Restructure proposal and advise me), I will again be voting my shares in favour of management.

I invite all KWG shareholders to take the time and read the Share Restructure (Schedule A) and become familiar with what is being proposed - it is an absolutely brilliant way to potentially gain access to new capital and is no way a share consolidation. While you are reading the Notice, flip to page 3 and see how many shares Frank has and think about what would happen to his personal wealth if a share consolidation went through.

The share restructure proposal is another move by management to enhance the value of KWG and create value for KWG shareholders.

Good luck to all KWG Longs.

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