Hello Rapidrob,

You posted,

"Suppose CLF ultimately counters with a say, one CLF for 50 FWR. That would be a very minor dilution for CLF and quite affordable. Thats around $.75 Cdn for an FWR share, hypothetically. The big question is what does NOT then do. It is now in a poor position to improve its offer, as only NOT stock is available."

The news we are expecting in the next day or so, if it is as good as many believe, could easily move our shareprice above $3.00 which would top the hypothetical .75 offer from CLF. If we reach $4.00, NOT's offer would represent a value of $1.00 per FWR share, so NOT may have some room to effectively up their offer.

Of course, in an all out battle with CLF, NOT would lose, unless NOT has the backing of a large entity, which could be CLF itself, which brings us back to the current offer on the table.

Just a possibility, IMO.

Regards, Canseco