"Frank Smeenk's KWG Resources Inc. (KWG), unchanged at two cents on 131,000 shares, has settled matters with Bold Ventures Inc. (BOL: $0.035) and completed its earn-in on the Black Horse chromite project at Koper Lake in Northern Ontario. To do so, KWG issued five million shares and a $267,858 debenture to Bold. (The debenture pays annual interest at 5 per cent until it matures in early 2019.)

At last report, Black Horse held 85.9 million tonnes of 34.5 per cent chromium oxide. Mr. Smeenk suggests Black Horse was once part of the Big Daddy deposit and that it broke off with geologic shifts along what KWG calls Frank's Fault, a deformation zone responsible for the up-plunge termination of Black Horse. Many shareholders, even those unfamiliar with geology, have been known to discuss Frank's Fault, although to them, the term represents their effort to affix blame for the relentless down-plunge in KWG's stock from its 2010 high of 15 cents."