Re: Two items that have me holding on tight in the ROF

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Boatboy

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Re: Two items that have me holding on tight in the ROF

in response to

Re: Two items that have me holding on tight in the ROF

djo

posted on Jul 28, 2009 09:38AM

Thanks for the clarification. Here is the NR text.

MONTREAL, July 22 /PRNewswire-FirstCall/ - KWG Resources Inc (TSX: KWG) has completed the purchase of a 1% net smelter royalty in the Black Thor, Black Label and Big Daddy chrome discoveries in the James Bay Lowlands for $635,000 and a further $1 million payable within one year plus 15 million common shares and 15 million common share purchase warrants, each warrant entitling the holder to purchase a common share at a price of $0.10 for a period of 5 years. KWG's principal shareholder Cliffs Natural Resources (NYSE: CLF) (Paris: CLF) supports the acquisition as it believes the deposits can be economically developed to supply both North American and some external markets. As 15 million KWG shares were issued to the vendor, Cliffs intends to subscribe for a further 3 million shares in order to maintain its equity interest.